https://www.taxtmi.com/caselaws?id=168685 The court ruled that profits from the sale of portfolio investments in India by the applicants, including Fidelity groups from the USA and Canada, and Matthews India Fund, could not be classified as business income. Consequently, the issues regarding the existence of a permanent establishment in India, taxability of business income without a permanent establishment, and the applicable tax rate were not addressed. The court determined that the transactions resulted in capital gains, not business income. en-us Mon, 08 Jan 2007 00:00:00 +0530 Thu, 22 Oct 2015 19:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168685 The court ruled that profits from the sale of portfolio investments in India by the applicants, including Fidelity groups from the USA and Canada, and Matthews India Fund, could not be classified as business income. Consequently, the issues regarding the existence of a permanent establishment in India, taxability of business income without a permanent establishment, and the applicable tax rate were not addressed. The court determined that the transactions resulted in capital gains, not business income. Case-Laws Income Tax Mon, 08 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168685