Judgment Search Results Home > Cases Phrase: finance act 2007 section 132 amendment of section 37 Court: authority for advance rulings Page 2 of about 24 results (0.095 seconds)

M/S. South West Mining Ltd. Vs. Commissioner of Income-tax Gulbarga

Court : Authority for Advance Rulings

..... deemed to accrue or arise to the consultant in india, section 195 of the act would be attracted. the rate of tax to be deducted at source will be as prescribed in part ii of schedule i to the finance act. if the rates provided in the treaty are more beneficial ..... the application; (2) that the rate of tax applicable for the purpose of tds would be the lesser of the rates prescribed under finance act, 2005 or in para 2 of article 12 of the treaty, that is whichever is more beneficial to the applicant. pronounced in the ..... to the consultant on its deemed income would be lower of the two rates viz. rates given in part ii of schedule i to the finance act, 2005 or para 2 of article 12; that is, whichever is more beneficial. 10. for the above reasons, we rule on question nos ..... at source is concerned, it is common knowledge that the rates of tax are prescribed in part ii of schedule i to the finance act, 2005; item 2(b)(vi) is the relevant item which gives the rate of tax. it would be apt to refer to .....

M/S.Rural Electrification Corporation Ltd. Vs. Commissioner of Income ...

Court : Authority for Advance Rulings

..... to the amendment in question. 17. in birla cement works vs. cbdt (248 itr 216) the question arose whether explanation iii to section 194c of the income-tax act, 1961 which was inserted by the finance act of 1995 was clarificatory. the supreme court held that there were no compelling reasons to hold that explanation iii was clarificatory or retrospective in ..... may be, the company], no allowance under this clause shall be made in respect of such excess. explanation - xxx xxx xxx 6. in section 36(1)(viii) the amendment was made by the finance act, 1997 with effect from 1.4.1998, by inserting the word and maintained after the word created. the provision after the amendment, to the ..... tribunal (i.t.a.t.) chandigarh bench in the case of delhi financial corporation vs. jcit, a.y. 1997-98, reported in [2007] 13 sot 170 observed as under:- at bare perusal of section 36(1)(viii), as extracted above, itself shows that the amount of deduction is not to exceed 40 per cent of profits derived from the .....

M/S.Rural Electrification Corporation Ltd. Vs. Commissioner of Income ...

Court : Authority for Advance Rulings

..... it was amended to the effect that infrastructure facility shall have the meaning assigned to it as in section 10(23g) of the act (since omitted by the finance act, 2007 w.e.f. 1.4.2007). in line with the policy of simplification, the finance act 1999 w.e.f. 1.4.2000 dispensed with the requirement of the approval by the central ..... government in respect of the financial corporations for the purpose of the deduction. now, section 36(1)(viii) of the act has been ..... twenty five per cent; (ii) where the paid-up share capital of the corporation exceeds three crores of rupees, ten per cent. by the finance act (21) of 1979, the provisions of section 36(1)(viii) have also been extended to public companies formed and registered in india with the main object of carrying on the business of providing .....

instrumentarium Corporation Vs. Director of Income-tax(international T ...

Court : Authority for Advance Rulings

..... is one such measure. the provisions of transfer pricing were first introduced by substituting sections 92 to 92f for the then existing section 92 by finance act 2001; however, they were also substituted by new set of provisions - section 92 to 92 f - by the finance act 2002 w.e.f. 1.4.2002. the said new provisions, supported by ..... the rules, now provide a detailed statutory machinery for computation of reasonable and equitable profits and tax in india in the case of multinational enterprises. 10. it will be useful to refer to the notes on the finance ..... respect of the previous year in which the international transaction was entered into. having regard to the aforementioned provision - proviso(ii) to sub-section(2) of section 245r of the act - it is a prohibited exercise for the authority. indeed the authority is enjoined to reject the application if the question involves determination of fair .....

In Re: Application No. P-16 of 1998

Court : Authority for Advance Rulings

Reported in : (1999)236ITR103AAR

..... agreement will override the provision of the finance act by which the rates of tax are fixed annually.60. moreover, if after the agreement ..... be contrasted with certain special provisions to which a foreign company is not subjected. for example, sections 115-0, 115b and 115q, are applicable only to domestic companies. it has also to be noted that the surcharge imposed by the annual finance act is payable only by a domestic company and not a foreign company. in the background of ..... and specific provisions of the income-tax act and the dtaa.59. the income-lax act, however, does not provide the rate at which income-tax will have to be levied. the rate is provided by the annual finance act and is determined by the fiscal policy of the government.sub-section (2) of section 90 does not say that the .....

Timken France Sas Vs. Director of Income-tax

Court : Authority for Advance Rulings

Reported in : (2008)BusLR60

..... 10%, such excess shall be ignored.13.1. the counsel for the applicant places reliance on the underlined words "all assessees" and submits that section 112(1) (as amended by finance act 1999) did not intend to maintain the distinction between resident and non-resident assessees. having regard to the fact that a level playing field between ..... , the counsel for revenue relies on the cbdt circular no. 636 dated 31.8.92 containing the explanatory notes to the provisions of finance act, 1992. while referring to the amendment of section 48 which introduced the concept of cost inflation index, it was stated as follows: as protection from rupee value in terms of foreign currency ..... in terms of indexation will not be available to non-residents who will enjoy the concession available in the first proviso to section 48." 10. the proviso to section 112(1) was introduced by the finance act, 1999 with effect from 1.4.2000. the background for introducing the proviso will be adverted to later. prior to the .....

Timken France Sas Vs. Director of Income-tax (international Taxation) ...

Court : Authority for Advance Rulings

..... exceeds 10%, such excess shall be ignored. 13.1. the counsel for the applicant places reliance on the underlined words all assessees and submits that section 112(1) (as amended by finance act 1999) did not intend to maintain the distinction between resident and non-resident assessees. having y 194 itr (statutes) at 201 regard to the ..... connection, the counsel for revenue relies on the cbdt circular no. 636 dated 31.8.92 containing the explanatory notes to the provisions of finance act, 1992. while referring to the amendment of section 48 which introduced the concept of cost inflation index, it was stated as follows : as protection from rupee value in terms of foreign ..... of indexation will not be available to non-residents who will enjoy the concession available in the first proviso to section 48. proviso to section 112(1) 10. the proviso to section 112(1) was introduced by the finance act, 1999 with effect from 1.4.2000. the background for introducing the proviso will be adverted to later. .....

In Re: Dhv Consultants Bv

Court : Authority for Advance Rulings

Reported in : (2005)197CTRAAR105

..... fees for technical services) of a foreign company, tax is computed on net basis. providing for lower rate of tax under section 115a as compared with the rates prescribed in the finance act is clearly for allowing margin for the deduction of expenses which include remuneration paid to employees working in india.profits and gains of ..... narang, members for appellant/petitioner/plaintiff: sohrab dastur and niraj sheth, advs.income tax act, 1961 - sections 2(24), 4, 10(6), 28 to 44c, 44d, 52(1), 52(2), 57, 90, 115a, 115a(1), 115a(3), 206c and 245q(1); finance act, 1975; income tax act, 1922 in re: stanley keith kinnett, (1999) 238 itr 155 (aar); karamat ..... the final stage in accordance with these sections.7. now, with regard to regular assessment in accordance with sections 28 to 43c in case of foreign companies, section 4 which is the charging section, provides that tax shall be charged for any assessment year as per rates prescribed in the finance act. for royalty and fees for technical .....

Dljmb Mauritius Investment Vs. Commissioner of Income-tax

Court : Authority for Advance Rulings

Reported in : (1997)228ITR268AAR

..... , the income received from the unit trust of india could have been considered to be dividends because, under section 32 of the unit trust of india act, 1963, the uti was deemed to be a company for income-tax purposes. with the finance act of 1997, this will cause no difficulty to the applicant. thus, income from the uti will be any ..... how exempt and income from mutual funds run by domestic companies will be exempt from the assessment year 1998-99 onwards in view of the provisions of the finance act, 1997. if the income distribution is by any body other than a company, it would not be in the nature of dividend and it would also not fall ..... to make three changes in its application : (i) firstly, it desires to withdraw question no. 2 from the purview of the application. it is said that, since the finance act, 1997, abolishes tax on dividends, any dividend that may be received by the applicant from indian companies would automatically be exempt from tax and so the question of withholding of .....

In Re: R and B Falcon (A) Pty Ltd.

Court : Authority for Advance Rulings

Reported in : (2007)289ITR369AAR

..... payment for, the following purposes, namely- the following clause (q) shall be inserted after clause (p) in sub-section (2) of section 115wb by the finance act, 2006 w.e.f. 1st april, 2007: (3) for the purposes of sub-section (1), the privilege, service, facility or amenity does not include perquisites in respect of which tax is paid or ..... levy.question no. 104 of circular no. 8 of 2005, which is said to be the precursor of the clause inserted by the finance act, 2006 in sub-section (3) of section 115wb of the act and the answer thereto read as follows: 104. whether expenditure incurred by the employer for the purposes of providing free or subsidized transport ..... applicant claims that the answer to question no. 104 in the said circular shows that it is not liable to fbt and that subsequently section 115wb(3) of the act was amended by finance act, 2006 to exclude from the operation of fbt any free or subsidized transportation facility provided by the employer to his employees for journeys by .....