Judgment Search Results Home > Cases Phrase: insurance act 1938 4 of 1938 section 10 separation of accounts and funds Court: authority for advance rulings Page 1 of about 1 results (0.070 seconds)

M/S Amiantit International Holding Ltd., Vs. Director of Income Tax (i ...

Court : Authority for Advance Rulings

..... a result of the transfer of such capital asset. explanation : for the purposes of this sub-section, the expression insurer shall have the meaning assigned to it in clause (9) of section 2 of the insurance act, 1938 (4 of 1938).] section 47. transactions not regarded as transfer. nothing contained in section 45 shall apply to the following transfers : (i ..... on the facts and circumstances of the case, whether achl, the recipient company, is required to withhold tax in accordance with the provisions of section 195 of the act? 4) on the facts and circumstances of the case, if the contribution is not taxable in india, then, whether aih, the applicant, is required to file any return ..... we have taken, there is no need for us to discuss whether section 47(iii) is also attracted in the instant case. 4. we shall, before proceeding further, refer to the relevant provisions of it act: section 45. capital gains (1) any profits or gains arising from the transfer of a capital asset effected in the previous .....

ishikawajima-harima Heavy Industries Co.Ltd., Vs. Director of Income-t ...

Court : Authority for Advance Rulings

..... circumstances of the case, whether the amounts received/receivable by the applicant from petronet lng for offshore services are chargeable to tax in india under the act and/or the india-japan tax treaty? 4. if the answer to (3) above is in the affirmative, to what extent would the amounts received/receivable for such services be chargeable to tax ..... title were dispatched two weeks before loading of the goods on ship and while the goods were on high seas, the document were with the purchaser. indeed, the insurance for transportation of the goods was also borne by the petronet. we have no hesitation in holding that property in the goods passed to the petronet while the goods ..... in india on account of supply of machinery and documentation to the said undertaking. the high court held that: (i) it was clear from the agreement that the insurance risk during the course of the journey was that of the assessee and it paid for the same and even the freight charges from the european port to the place .....

Goodyeartire and Rubber Company and Another

Court : Authority for Advance Rulings

..... accruing as a result of the transfer of such capital asset. explanation: for the purposes of this sub-section, the expression insurer shall have the meaning assigned to it in clause (9) of section 2 of the insurance act, 1938 (4 of 1938).] section 48. mode of computation. the income chargeable under the head capital gains shall be computed, by deducting from the ..... gocpl, the recipient of shares, is required to withhold tax in accordance with the provisions of section 195 of the act? 4. the applicant, gocpl, has sought a ruling on the following questions:- 1. whether the applicant is liable to tax in india in respect of the contribution of ..... on the aforesaid contribution of shares in accordance with the provisions of section 195 of the act? 3. whether the applicant is required to withhold tax in accordance with the provisions of section 195 of the act on receipt of shares from gtrc? 4. whether the proposed contribution of shares by gtrc to the applicant attracts the transfer pricing .....

Joint Stock Company Foreign Economic Association “ Technopromexpo ...

Court : Authority for Advance Rulings

..... supply contract no. 4520), for offshore supply of all plant and equipment including mandatory spares are liable to tax in india under the provisions of the income-tax act, 1961 (act) and the agreement for avoidance of double taxation between india and russia ( india-russia tax treaty)? 3. the offshore supply contract was made on 25.3. ..... opinion on the premise that offshore supplies or offshore services were intimately connected with the turnkey project. then, the works contract cases arising under the sales tax acts which were referred to by the additional solicitor general in support of the contention that the contract being a composite one, the sale of equipment and material cannot ..... applicants account on the same day. this modus operandi is in accordance with para 2.4.4 of the loa. the bill of entry which was prepared about 15 days after shipment also shows power grid as the importer. even in the insurance policy taken by the applicant power grid has been named as the beneficiary. the .....

In Re: Anurag Jain

Court : Authority for Advance Rulings

Reported in : (2005)195CTRAAR117

..... vision health resources india (p) ltd. (for short the "indian company"), incorporated under the companies act, 1956. the indian company carries on business in information technology enabled services involving processing of medical billing and medical insurance claims.the authorised capital of the indian company is rs. 10,00,000 which is divided into ..... covered by the aforesaid share purchase agreement dt. 16th april, 2003 read with the exhibit attached thereto, are taxable and in which year of assessment 4. whether any relief or concession in respect of income charged as capital gains or as other income under any other head is available under applicable provisions ..... amount immediately to the company. the non- competition agreement also includes a clause identical to clause (e) in the employment agreement, quoted above. clause (4) of the employment agreement refers to "non-competition agreement" which in turn mentions that the applicant will receive a portion of the purchase price in respect .....

In Re: Sopropha S.A.

Court : Authority for Advance Rulings

Reported in : (2004)268ITR37AAR

..... are held in stock ?" 5. the applicant's learned counsel explained that section 43(5) of the income-tax act, 1961 (the act), and the central board of revenue (the board) circular no. 23d (f. no. 4(124) -- 60/tpl dated september 12, 1960) are relevant for understanding the applicant's interpretation of law in respect ..... to enter into forward transaction of both sale and purchase because without these contracts for sale and purchase constituting hedging transactions, there would be no effective insurance against the risk of loss in the price fluctuations of merchandise sold.7. counsel explained that his understanding of the scope of hedging transactions is in ..... merits of the arguments put forth by learned counsel of the applicant and the departmental representative, it would be appropriate to extract the relevant provisions of the act and the relevant paragraphs of the board's circular. "(5) 'speculative transaction' means a transaction in which a contract for the purchase or sale of .....

M/S. Sopropha S.A. Vs. Present for the Department Mr. S.M.J. Abidi, Ad ...

Court : Authority for Advance Rulings

..... as are held in stock? 5. the applicants learned counsel explained that section 43(5) of the income tax act, 1961 (the act) and central board of revenue (the board) circular no.23d (f.no.412/(4)60/tpl dated 12.9.1960) are relevant for understanding the applicants interpretation of law in respect of the ..... necessarily to enter into forward transaction of both sale and purchase because without these contracts for sale and purchase constituting hedging transactions, there would be no effective insurance against the risk of loss in the price fluctuations of merchandise sold. 7. the counsel explained that his understanding of the scope of hedging transactions is in ..... the merits of the arguments put forth by the learned counsel of the applicant and the departmental representative, it would be appropriate to extract the relevant provisions of the act and the relevant paragraphs of the boards circular. 18. section 43(5) and proviso (a) thereto reads as under :- (5) speculative transaction means a .....

Mack Insurance Auxiliary Vs. Commissioner of Service Tax

Court : Authority for Advance Rulings

..... covered under any of the clauses of section 96c (2) of the finance act, 1994.2. the applicant acknowledged receipt of the show cause notice and stated the reply would be filed at the time of hearing of the ..... the said application is liable to be rejected on the following two grounds: (a) that in terms of section 96a (b) of the act it appears that you do not satisfy the requirements of being an applicant; (ii) the questions raised by you do not appear to be ..... agree with you that as per section 96 a (c) and 96 c(2) of the finance act, 1994, we do not strictly fall in the category of organization who can seek advance ruling.4. in view of the reply quoted above, grounds (i) & (ii) in the show cause notice ..... appellants: mack insurance auxiliary services (p) ltd. vs.1. the applicant filed this application under section 96c of the finance act, 1994 (for short "the service tax law"). the office of the authority pointed out defects and consequently .....

In Re: International Hotel

Court : Authority for Advance Rulings

Reported in : (2007)288ITR534AAR

..... the following issues: (ii) whether the services rendered by the applicant are covered by the definition of fees for technical services under explanation to section 9(1)(vii) of the act? (iv) whether the payment is for earning an income from a source outside india. what is the meaning of term "source"? (v) in case the payer is considered as a ..... , it may be taxed in the hands of the agent by the machinery provision enacted in section 40(2). income not taxable under section 4 of the act of a non-resident becomes taxable under section 42(1) if there subsists a connection between the activity in the taxable territories and the business of the non- ..... deemed to be received, or accruing or arising or deemed to be accruing or arising within the taxable territories in the previous year is taxable by section 4(1)(a) and (c) of the act, whether the person earning is a resident or non-resident. if the agent of a nonresident receives that income or is entitled to receive that income .....

international Hotel Licensing Company S.A.R.L. Vs. Dit (international ...

Court : Authority for Advance Rulings

..... income, it may be taxed in the hands of the agent by the machinery provision enacted in section 40(2). income not taxable under section 4 of the act of a non-resident becomes taxable under section 42(1) if there subsists a connection between the activity in the taxable territories and the business of the non-resident ..... deemed to be received, or accruing or arising or deemed to be accruing or arising within the taxable territories in the previous year is taxable by section 4(1)(a) and (c) of the act, whether the person earning is a resident or non-resident. if the agent of a non-resident receives that income or is entitled to receive that ..... ) whether the services rendered by the applicant are covered by the definition of fees for technical services under explanation to 9(1)(vii) of the act? (iii) whether the payment is in the nature of reimbursement? (iv) whether the payment is for earning an income from a source outside india. what is the meaning of term "source"? (v) in case .....