Bombay High Court Upholds APA-Based Royalty Adjustment; Refunded Rs. 19.44 Crore Cannot Be Taxed as Income of Foreign AE | Biz Flow Kit
Bombay High Court Upholds APA-Based Royalty Adjustment; Refunded Rs. 19.44 Crore Cannot Be Taxed as Income of Foreign AE The assessee, Gemological Institute of America Inc. (GIA US), is a US-based organization engaged in gem grading and certification services. It operated in India through its wholly-owned subsidiary, GIA India Laboratory Private Limited (GIA India), which…