In the March case of M/s AramCo Overseas Company, BV the Authority for Advance Rulings (AAR) held that a non-resident engaged in procurement support services for its group entities through an Indian office would be liable to pay tax in India in respect of the income generated from it. The AAR held that AramCo Overseas was not eligible for the exemption contained in section 9(1) of the Indian Income Tax Act, 1961, applicable to activities connected with the purchase of goods for export from India.
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The legislative and regulatory update is compiled by Nishith Desai Associates, a Mumbai-based law firm. The authors can be contacted at nishith@nishithdesai.com. Readers should not act on the basis of this information without seeking professional legal advice.
