https://www.taxtmi.com/caselaws?id=426650 Under the India-Finland tax treaty, profits can be attributed to a permanent establishment only to the extent actually earned by the foreign enterprise; because the audited accounts showed a net loss, no taxable attribution arose even if a permanent establishment were assumed. Separately, payments for software supplied with telecom hardware were held not to be royalty where no copyright rights were transferred, and the separate invoice description of software value did not alter the character of the receipt. On both issues, the additions were unsustainable and the assessee succeeded. en-us Tue, 07 Dec 2021 00:00:00 +0530 Mon, 22 Aug 2022 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426650 Under the India-Finland tax treaty, profits can be attributed to a permanent establishment only to the extent actually earned by the foreign enterprise; because the audited accounts showed a net loss, no taxable attribution arose even if a permanent establishment were assumed. Separately, payments for software supplied with telecom hardware were held not to be royalty where no copyright rights were transferred, and the separate invoice description of software value did not alter the character of the receipt. On both issues, the additions were unsustainable and the assessee succeeded. Case-Laws Income Tax Tue, 07 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426650