https://www.taxtmi.com/caselaws?id=435833 Transfer pricing allocation of market spread between an Indian marketing branch and trader-associated enterprises must reflect their respective functions, assets and risks. The marketer retains its local spread, but the residual market spread cannot be wholly attributed to the Indian branch merely because transactions were executed in India; the adjustment was deleted. Gains of a foreign institutional investor from the sale and purchase of debt securities were assessable as capital gains rather than business income under earlier binding decisions. The Indian banking branch did not, on the stated facts, make those gains taxable as business profits in India, and the Revenue's challenge failed. en-us Fri, 09 Dec 2022 00:00:00 +0530 Tue, 28 Mar 2023 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435833 Transfer pricing allocation of market spread between an Indian marketing branch and trader-associated enterprises must reflect their respective functions, assets and risks. The marketer retains its local spread, but the residual market spread cannot be wholly attributed to the Indian branch merely because transactions were executed in India; the adjustment was deleted. Gains of a foreign institutional investor from the sale and purchase of debt securities were assessable as capital gains rather than business income under earlier binding decisions. The Indian banking branch did not, on the stated facts, make those gains taxable as business profits in India, and the Revenue's challenge failed. Case-Laws Income Tax Fri, 09 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435833