Study Circle Meeting (10/04/03)

28 March,2003

Dear Members,

Notice of Next Study Circle Meeting

The Delhi Tribunal has recently rendered an interesting decision in the case of Asia Satellite Telecommunications Company Ltd. Vs. Dy. Commissioner Of Income tax.

This decision , which runs into 88 pages, discusses and debates at length on the concept of Business Connection, Royalty, Fees for Technical Services etc, and their taxability in India when two foreign parties transact outside India and the services are rendered outside India.

We are fortunate to have Shri Sunil D. Shah, Partner of C.C.Choksi, P.C.Hansotia and Deloitte Haskin and Sells to lead the discussion on the ramifications of this case. Mr.Sunil Shah was, incidentally, one of the authorised representatives who argued the case.

Entry to this meeting will be restricted to members of IFA - WRC only.

The details of the programme are as under:

For Study Circle Committee

Sd/=

Sushil Lakhani