CORPORATE AND PROFESSIONAL UPDATES 15TH JUNE 2018
Direct Tax: AAR holds that the non-compete fee received by Applicant [Holding company of Mcmillan Group (a leading publisher) and resident of UK] constitutes business income u/s 28(va), however it is not taxable in India in absence of Applicant having PE under India-UK DTAA; Applicant received non-compete fee pursuant to Share Purchase Agreement (SPA) entered …