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PEO company
Category Archives: Advance Ruling Authority
   

Advance Ruling Authority

2010-ITS-014-ARA-M/s ARAMCO OVERSEAS COMPANY BV -Vs- Director of Income-tax, (International Taxation)-I, New Delhi , Dated : March 12, 2010

 applicant is not eligible to seek the aid of cl.(b) of Explanation 1 to Section 9(1)(i) to nullify the accrual or arising of income in India. When cl.(b) of the Explanation is excluded from consideration, there is no denial of the fact that Section 5(2) squarely applies in order to fasten the tax liability on the applicant in respect of the income by way of mark-up received on account of the support services rendered in India for its affiliate entities. Continue reading

2010-ITS-015-ARA-M/s UMICORE FINANCE LUXEMBOURG -Vs- Commissioner of Income-tax, Goa , Dated : March 12, 2010

In the light of the above discussion, it is ruled that no capital gains accrued or arose at the time of conversion of partnership firm into a private limited company under Part IX of the Companies Act and therefore, notwithstanding the non-compliance with clause (d) of proviso to Section 47(xiii) of the Income Tax Act, by reason of premature transfer of shares, the said company is not liable to pay capital gains tax. Continue reading

2010-ITS-023-ARA-RURAL ELECTRIFICATION CORPORATION LTD -Vs- COMMISSIONER OF INCOME TAX , Dated : July 23, 2010

The loan was payable in quarterly installments. This request has been favorably considered by the applicant as seen from the communication dated 26.7.2006. The statement explaining the calculation of premium has been filed by the applicant. It appears to us that the amount realized by way of premium from the said party is integrally connected with the transaction of long term financing even if it is not in the nature of interest. It cannot be regarded as anything other than the profits derived from long term financing provided to Arkay Energy Ltd. In this context, one significant fact to be taken note of is that in the loan agreement between the applicant and Arkay Energy Limited, a specific provision has been made for pre-mature repayment. Continue reading

2010-ITS-011-ARA-M/s WAVEFIELD INSEIS ASA -Vs- DIRECTOR OF INCOME-TAX (INTERNATIONAL TAXATION-II), NEW DELHI , Dated: March 5, 2010

As the amounts falling under Section 44BB of I.T.Act have been excluded from the purview of the royalty definition, this question has to be answered in the negative. Once Section 44BB is attracted, it is common ground that the computation has to be made in accordance with that provision and no other special provision, viz., Section 44DA or Section 115-A would come into play in view of the fact that the payment is being made by a non-resident to another non-resident. Continue reading

2010-ITS-012-ARA-FEDERATION OF INDIAN CHAMBERS OF COMMERCE AND INDUSTRY (FICCI) -Vs- DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION) II NEW DELHI , Dated: March 5, 2010

There is nothing like sharing the trade secrets or imparting skills in a practical manner. No doubt, the workshop an enlightening exercise, opening up new vistas of thinking. The participants will benefit by the lectures and deliverables and they may be better motivated or equipped to deal with the problems in the field of commercialization/marketing of the technology. But, on that account, it cannot be said that the definition of FTS as explained earlier has been satisfied in the instant case. Orientation towards business and inculcation of entrepreneurial outlook does not really amount to “making available” the technical knowledge, experience or skills of the experts of IC2 Institute. Continue reading

2010-ITS-013-ARA-REAL RESOURCING LTD -Vs- DIT (INTERNATIONAL TAXATION)-II, NEW DELHI , Dated: March 5, 2010

Catering to the function of referring the potential Indian candidates to the Indian based recruitment company without creating any commitment to recruit them does not, without anything more, give rise to an inference of PE. For rendering such services, a fixed place of business in India or dependent agent need not necessarily be there. Continue reading

2010-ITS-022-ARA-M/s HYUNDAI ROTEM CO, KOREA -Vs- M/s MITSUBISHI CO, JAPAN , Dated : March 23, 2010

Then, the arguments were addressed by the learned Counsel for the applicant on the point whether it is a case of diversion of income by overriding title. There is no need to express any view on this aspect. So also, section 167(B) which is a provision for ascertaining the income of AOP members, which has been referred to by the learned departmental representative, need not be discussed as it has no bearing on the basic issue whether on the facts of the case, an AOP exists. Continue reading

2010-ITS-020-ARA-E TRADE MAURITIUS LTD -Vs- DIT(International Taxation), Mumbai , Dated : March 22, 2010

Whether the policy considerations underlying the crucial Treaty provisions and the spirit of the Circular issued by the CBDT would still be relevant and expedient in the present day fiscal scenario is a debatable point and it is not for us to express any view in this behalf. Continue reading

2010-ITS-021-ARA-ROYAL BANK OF CANADA -Vs- DIT (International Taxation), Mumbai , Dated : March 22, 2010

Though there is some force in the contention advanced by the learned counsel, we are not inclined to give a ruling at this stage. We agree with the learned counsel for the Revenue that the question has to be decided on the basis of actual facts but not on hypothetical basis. No doubt, the advance ruling can be sought in respect of a transaction “proposed to be undertaken”. But where the determination of the question depends on assessment of certain crucial facts, the actual pattern of dealings or the modus operandi of the transactions, it would not be appropriate to undertake the task of giving a definite ruling at this juncture, especially when we are called upon to reconsider the earlier ruling of this Authority on the same issue. Continue reading

2010-ITS-018-ARA-ERNST & YOUNG (P) LTD -Vs- Commissioner of Income-tax, Kolkata , Dated : March 19, 2010

There is no transfer of technical know-how in that process nor can it be said that the recipient of these coordinated/centralized services has been enabled to apply the technology which EMEIA is possessed of. In fact, EMEIA has not developed any technology of its own nor does it innovate anything. Continue reading

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