GVK INDUSTRIES LTD. & ANR. vs INCOME TAX OFFICER & ANR.
Whether the 'success fee' paid by an Indian company to a non-resident company (NRC) for financial advisory services rendered from outside India constitutes income deemed to accrue or arise in India under Section 9(1)(vii)(b) of the Income Tax Act, 1961, as fees for technical services --- Held No. Whether the appellant-company is entitled to a 'No Objection Certificate' for remittance without deducting tax at source --- Held Yes.
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