Mumbai Appellate Tribunal Rules on the Nature of Income Derived from Providing Access to a Foreign Company's e-Portal

The Mumbai Appellate Tribunal recently ruled on a case concerning the taxation of income derived by a foreign company from providing software and equipment used to access the e-portal of the company.

The case involved a U.K. company that provides foreign exchange deal match making systems for clients in India. The U.K. company entered into contracts and received payments from the Indian clients for access to the system. The U.K. company also engaged an Indian company to conduct marketing of…