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Canoro Resources Limited Vs. Director of Income-tax (internat Ional Ta ...

Court : Authority for Advance Rulings

..... , canada can be assessed as a firm under the income-tax act, 1961, provided the requirements of section 184 are complied with. (2) the aforesaid firm shall be liable to tax @ 30 per cent plus applicable surcharge and cess in accordance with paragraph (c) of the first schedule of the finance act, 2008. (3) the residential status of the said partnership firm is ..... , its residential status is not relevant, as the rate of tax applicable to every firm is 30 per cent as per paragraph (c) of the first schedule of the finance act, 2008. 10. 10.1 it is the common stand of both - the applicant and the revenue, that the nature of income arising from the transfer of the applicants participating interest ..... full value of the consideration received or accruing as a result of the transfer of the capital asset. xx xx xx xx xx xx xx xx xx sub-section(3) was inserted by the finance act, 1987 w.e.f. 1.4.1988. explaining the amendment, the cbdt circular no. 495 dated 22.09.1987 states that, to avoid payment of .....

M/S. Umicore Finance Luxembourg Vs. Commissioner of Income-tax, Goa

Court : Authority for Advance Rulings

..... as such for a period of five years from the date of the succession; clause (xiii) in the present form was enacted by the finance act of 2001 in substitution of the previous clause. 7.1 section 47(xiii) specifically excludes certain categories of transfer from the purview of capital gains taxation, but it is subject to the fulfillment of the conditions ..... consequent upon the transaction entered into by the applicant of buying the shares of the said company in august, 2008 and making it its wholly owned subsidiary by reason of the provision in clause (d) of proviso to section 47(xiii) of the act? 2. the following is the summary of facts stated in the application. the applicant is a company incorporated ..... to rs.2 crores divided into 20 lacs equity shares of rs. 10/- each. as on the date of purchase of shares by the applicant company on 1st july, 2008, its total issued and paid up capital was rs.1,55,00,000/- divided into 15,50,000 shares of rs.10/- each and they were beneficially owned by the .....

In Re: V. Ravi Narayanan

Court : Authority for Advance Rulings

..... i)(a) of part ii of the first schedule to the finance act, 2007 will be attracted.11. one more question remains. this is regarding form 15g. this form has been prescribed by r. 29c of the it rules, 1962 in pursuance of sub-section (1a) of section 197a of the act. the applicant, in his rejoinder, has stated that if this ..... spent more than 182 days outside india, he has claimed the status of a non-resident individual for the financial year 2007-08, corresponding to the asst. yr. 2008-09.he proposes to open a non-resident ordinary deposit (nro account) with banks in india with the help of remittances from saudi arabia. he claims that the ..... rejoinder.3. we have refrained the questions for ruling as follows vide order dt.10th jan., 2008: (i) whether the non-resident ordinary (nro) deposit acquired with convertible foreign exchange can be treated as a 'foreign exchange asset' under section 115c of the it act, 1961? (ii) whether the interest on such nro deposits can be treated as 'investment income .....

Google Online India Private Ltd. Vs. Commissioner of Service Tax

Court : Authority for Advance Rulings

Reported in : (2006)200CTRAAR245

..... with display or exhibition of an advertisement or actually displays/exhibits an advertisement on an internet website.1. in this application under section 96c(1) of chapter va of finance act, 1994 (for short "the act"), the applicant - m/s. google online india private limited - is a wholly owned subsidiary of m/s. google international ..... , 2004 (164) elt 163; icici bank v. municipal corporation of greater bombay, classification section 65(105)(e) of the finance act 1994 (act) whether activity of providing space for advertisement on google website can be classified under any heads of taxable services enumerated in chapter v of the ..... agarwal, chartered accountants for deloitte haskins & sells for respondents/defendant: a.k. roy, joint cdr and bipin sapra, jt.commissioner finance act, 1994 - sections 65, 65(2), 65(3), 65(19), 65(105), 96c(1) and 96c(2); finance act, 2001 advertising club v. cbec, 2002 (121) taxman 287 : 2001 (131) elt 35 (mad); itpo v. cce .....

In Re: Hindustan Powerplus Ltd.

Court : Authority for Advance Rulings

Reported in : (2004)267ITR685AAR

..... sought on such a question.advance rulings--taxability of a residenteffect of retrospective amendment made by the finance act, 2003, with effect from 1-6-2000 to section 245n(a)(ii) after amendment of section 245n(a)(ii) by the finance act, 2003 retrospectively the taxability of a resident cannot be made subject matter of advance ruling.after ..... singh and k.d. gupta, members advance rulings--taxability of a residenteffect of retrospective amendment made by the finance act, 2003, with effect from 1-6-2000 to section 245n(a)(ii) after amendment of section 245n(a)(ii) by the finance act, 2003 retrospectively the taxability of a resident cannot be made subject matter of advance ruling.after amendment of ..... section 245n(a)(ii) by the finance act, 2003 retrospectively the taxability of a resident cannot be made subject matter of advance ruling.a comparison of the provision before the .....

Jason James Clemens Vs. Commissioner, Service Tax

Court : Authority for Advance Rulings

Reported in : (2005)(98)ECC395

..... the aforesaid circular will fall within the meaning of the word "notification" in clause (d) of sub-section (2) of section 96c of the finance act shall be considered at the time of hearing.3. sub-section (2) of section 96c of the finance act, 1994 reads as under : "the question on which the advance ruling is sought shall be ins respect of ..... on such amount, which prima-facie was not payable." 2. the jurisdiction of the authority to pronounce its advance ruling is circumscribed by sub-section (2) of section 96c of the finance act, 1994, in that the advance ruling can be sought only on questions of the kinds listed therein. only if the questions raised by the ..... stage of pronouncing an advance ruling not reached--application rejected.1. the prime point to ponder in the instant application for advance ruling under sub-section (1) of section 96c of the finance act, 1994, made by one mr. jason james clemens, a british national of foreign origin and "non-resident", is as to whether the questions .....

Harekrishna Developers (Through Vs. Commissioner of Service Tax

Court : Authority for Advance Rulings

..... making reference to the salient features of the proposed activity as reflected in the draft agreement and the relevant provisions contained in chapter v of the finance act, 1994.7. section 66 which is the charging section ordains that the service tax shall be levied at the rate of 12% on the value of taxable services referred to in various sub-clauses ..... to a contractor, as in the case of proposed activity no. 3 (dealt with in application no. aar/10(st)/2007 and decided vide ruling no. aar/04(st)/2008). in such a case, there is a clear liability on the part of the contractor i.e. the applicant in relation to proposed activity no. 3, to pay service ..... service tax. whether the activity of booking the residential units to be undertaken by the applicant is a taxable service liable to service tax under the provisions of section 65 (105) of the finance act, 1994? 23. it seems that the question as framed lacks in clarity. the question, if literally read, is confined to the first step of 'booking' .....

In Re: Advance Ruling P. No. 10 of

Court : Authority for Advance Rulings

Reported in : (1997)224ITR473AAR

..... in the same status as the beneficiary, will be assessable as a "foreign company" attracting the provisions of section 112(c) or section 115a read with section 2(3) of the relevant finance act (set out later). section 112 and section 115a will then apply as if the investor company were the direct recipient of the cg from the investee and ..... effective curb on the proliferation of such trusts, and to reduce the scope for tax avoidance through such means, the finance act, 1970, has replaced section 164 of the income-tax act by a new section. under section 164 as so replaced, a 'representative assessee', who receives income for the benefit of more than one person whose shares ..... 1970 (see [1971] 79 itr (st.) 33)) as under (at page 46) : " private discretionary trusts.--under the provisions of section 164 of the income-tax act before the amendment made by the finance act, 1970, income of a trust in which the shares of the beneficiaries are indeterminate or unknown, is chargeable to tax as a single .....

Mcdonald'S India Pvt. Ltd. Vs. Commissioner, Central Excise

Court : Authority for Advance Rulings

Reported in : (2004)(93)ECC594

..... representative.4. to appreciate the question of maintainability of the application on the first ground, it will be useful to refer to certain provisions of the finance act. section 96d which deals with the procedure on receipt of application, inter alia, provides : "(2) the authority may, after examining the application and the ..... .n. chaturvedi and somnath pal, members for respondents/defendant: l. rajendran, assistant commissioner service-tax 1. in this application under section 96c of the finance act, 1994 (hereinafter referred to as the finance act), the applicant seeks an advance ruling from this authority on the question : "applicability of service tax on agreements executed for franchise ..... prior to the date of introduction of service tax i.e. 1st july, 2003," having regard to the provisions of sub-section (2) of section 96d of the finance act, we have perused the application, the comments received from the commissioner and having perused the technical note tentatively we are of the .....

Surbhi Industries Vs. Commissioner of Customs and

Court : Authority for Advance Rulings

Reported in : (2007)(208)ELT578AAR

..... . it is, therefore, not possible to accept the contention of mr. nankani that as sub-section (3) of section 136 of finance act, 2001, sub-section (3) of section 93 of finance (no. 2) act, 2004 and sub-section (3) of section 85 of finance act, 2005 specifically provide that the provisions of ce act and the rules made thereunder including those relating to refund, exemption from duties and imposition of penalty shall ..... are levied under the first schedule and the second schedule respectively of the tariff act. it has already been pointed out that the duties in dispute are levied under finance act, 2001, finance act, 2005 & finance (no. 2)act, 2004 respectively. a perusal of sub-section (1) of section 136 of finance act, 2001 which is the charging section shows that nccd is levied and collected for the purpose of the union .....