The Tribunal held that the referral fee earned by the assessee could not be construed to be attributable to assessee’s PE in India. Therefore, the same is not taxable in India as per Art. 7 of DTAA between India & Switzerland. The Tribunal further held that since the appeal filed by the revenue is dismissed the appeal & C.O. filed by the assessee is infructuous. (AY. 2011-12)
Credit Suisse AG v. Dy. CIT (2018) 192 TTJ 67 (UO)(Mum.)(Trib.)
S. 9(1)(vii) : Income deemed to accrue or arise in India – Fees for technical services – Referral fee earned by the assessee is held to be not taxable in India – DTAA-India -Switzerland .[ Art, 7 ]