DIT v. Morgan Stanley Co. Inc.

399 ITR 34Supreme Court of India2017#610 most cited

What is DIT v. Morgan Stanley Co. Inc. authority for?

Once a transfer pricing analysis has been undertaken for an Indian associated enterprise, no further profits are attributable to it as a Permanent Establishment, thereby extinguishing the need for additional profit attribution.

162

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2018 to 2026.

Also referred to as

DIT v. Morgan Stanley · transfer pricing analysis · permanent establishment · profit attribution · associated enterprise · Section 143(3) · Section 144C · profit split method

Sections most often in play

Section 1961Section 143(3)Section 234BSection 234ASection 144C(13)Section 270ASection 9(1)(vi)Section 144C

Issues it is cited on

dependent agent pefixed place peagency peprofit split methodsection 44bbbsection 209(1)service pemake available clausesection 44bbpermanent establishmentconstruction pesection 44b

Judgments citing DIT v. Morgan Stanley Co. Inc.

Corning Sas-India Branch Office, Gurgaon vs. DDIT, New Delhi

The appeal of the Assessee is allowed

ITA 4795/DEL/2010[2005-06]Status: DisposedITAT Delhi30 May 2018AY 2005-06

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A .No. 4678/Del/2010 (A.Y 2005-06)

Section 143(3)Section 9Section 92C

…t permanent establishment has been remunerated on an arm’s length basis, taking into account all the functions, assets and risks, no further allocation of profit is required. The Ld. AR also relied on following decisions: i. ADIT vs. E-Funds IT Solutions Inc 399 ITR 34 (SC) ii. Set Satellite (Singapore) Pte Ltd. vs. DDIT (Intl Taxation) 307 ITR 205 (Bom) Thus, the Ld. AR submitted that the Assessing Officer erred on facts and in law in allocating additional profit to the assessee, branch office of Corning SAS, in addition to the commission income earned @ 3% on direct sales made by Corning SAS to customers in I…

Dy. Director of Income Tax, New Delhi vs. Corning Sas- India Branch Office, Gurgaon

The appeal of the Assessee is allowed

ITA 4678/DEL/2010[2005-06]Status: DisposedITAT Delhi30 May 2018AY 2005-06

Bench: Shri R. K. Panda & Ms Suchitra Kamblei.T.A .No. 4678/Del/2010 (A.Y 2005-06)

Section 143(3)Section 9Section 92C

…t permanent establishment has been remunerated on an arm’s length basis, taking into account all the functions, assets and risks, no further allocation of profit is required. The Ld. AR also relied on following decisions: i. ADIT vs. E-Funds IT Solutions Inc 399 ITR 34 (SC) ii. Set Satellite (Singapore) Pte Ltd. vs. DDIT (Intl Taxation) 307 ITR 205 (Bom) Thus, the Ld. AR submitted that the Assessing Officer erred on facts and in law in allocating additional profit to the assessee, branch office of Corning SAS, in addition to the commission income earned @ 3% on direct sales made by Corning SAS to customers in I…