Friends,
I am a little confused on the correct position of the law in the light of Galileo, SET Sattellite, Morgan Stanley & Rolls Royce. So many judgements on the issue of PE and attribution of profits and yet there seems to be no common theme between them. Has anyone made a study of these judgements and would you care to set out what is the prevalent position. I think it will be useful to all of us.
Thanks in advance,
CA Ramesh.
There's an article on the subject of Galileo here (http://www.itatonline.org/articles2/galileo_1.php (http://www.itatonline.org/articles2/galileo_1.php)) where the author has tried to put some issues into perspective. I agree with you though that the scenario is very murky and it will take a very authoritative ruling to clear the field. When that will happen is anybody's guess. I guess we will have to live with the uncertainty till then.
Regards,
Probal.