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Showing contexts for: form softex in Dcit, New Delhi vs M/S. Virage Logic Interntional, Noida on 16 April, 2018Matching Fragments
b) The taxable entity assessed by the Assessing Officer is not the Branch Office as a separate taxable unit in its own right deriving income from exports but a foreign entity which is being assessed in respect of its income from the operations/activities carried out through the Branch Office in India.
c) The registration of the Branch Office as an STPI unit and the submission of Softex Forms are requirements to ensure compliance with specific regulatory conditions under the STPI scheme and cannot by themselves be determinative of the actual nature of a transaction or entitlement to deduction u/s 10A of the Act which is allowable only when there are "profits & gains" derived from exports and all the other conditions precedent are satisfied.