Supreme Court · 2015 INSC 131 · Decided 18 February 2015
GVK Industries LTD. &ANR. v. The Income Tax Officer & ANR.
- Court
- Supreme Court of India
- Citation
- 2015 INSC 131 · [2015] 3 S.C.R. 321
- Case number
- CIVIL APPEAL No. 7796/1997
- Decided
- 18 February 2015
- Bench
- S. J. MUKHOPADHAYA, DIPAK MISRA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 9(1)(vii)(b)
Headnote
A B c Income Tax Act, 1961: s.9(1)(vii)(b) - Success fee payable by appellant company to Non-Resident Company (NRC) for rendering professional advice for procurement of loan and for providing other financial and general services - Whether success fee is chargeable under the Act and whether to 'No-Objection Certificate' - Held: The services rendered by NRC included, inter alia, financial structure and security package to be offered to the lender, study of various lending alternatives for the local and foreign borrowings, making assessment of expert credit E agencies world-wide
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