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Linklaters could be facing a major tax bill for its India-related work following a Mumbai Income Tax Appellate Tribunal (ITAT) decision to apply a retrospective amendment to its Income Tax Act.
The ITAT upheld the original view of the tax assessing officer that all of the magic circle firms income relating to India dating back to 1995 should be taxable.
Other firms could also be subject to the tribunals decision. A Linklaters spokesperson said: Were reviewing the tribunals decision and have no further comment at this stage.
