Akil Hirani, Managing Partner and Head of Transactions, has authored a critique on the Reserve Bank of India’s recent circular that restricts banks and NBFCs from making investments in Alternative Investment Funds who, in turn, have investments in companies in which banks and NBFCs have or had, during the preceding 12 months, a loan or investment exposure. This was published on moneycontrol.com.
EXL Service.com deemed not to have a PE in India
Last week, in the EXL Service.Com, Inc. case, the Delhi Income-tax Appellate Tribunal (Tribunal) followed the Supreme Court’s rulings in the Formula One and E-Funds cases and, inter alia, held that a US taxpayer does not have a fixed place permanent establishment...