Judgment Search Results Home > Cases Phrase: state agricultural credit corporations act 1968 section 25 reserve fund Court: authority for advance rulings Page 1 of about 14 results (2.020 seconds)

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

Court : Authority for Advance Rulings

..... company (iii) a banking company (iv) a co-operative bank other than a primary agricultural credit society or a primary co-operative or agricultural and rural co-operative bank (v) a housing finance company; and (vi) any other financial corporation including a public company. the main business of these eligible entities is still to provide ..... examine whether the applicant is an eligible entity for the deduction under section 36(1)(viii) of the act. the eligible entity has been stated to be a financial corporation which includes, as per the definition in the section, a public company and a government company. as per the explanation appended to section 36 ..... as the transferee enterprise) for the purpose of operating and maintaining the infrastructure facility on its behalf in accordance with the agreement with the central government, state government, local authority or statutory body, the provisions of this section shall apply to the transferee enterprise as if it were the enterprise to which .....

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

Court : Authority for Advance Rulings

..... aggregate ceiling of 5 per cent of the total income, subject to the modalities of computation, to a public financial institution or state financial corporation or state industrial investment corporation, if these entities make any provision for bad and doubtful debts. thus, the requirement of section is that of making a provision ..... that the revenue had, all along in the past, accepted the applicant to be an eligible financial corporation for requisite deduction under section 36(1)(viii) of the act and had ..... corporation ltd. is a public sector undertaking and is engaged in the business of providing long term finance primarily to state electricity boards for the purpose of transmission, distribution and generation of electricity so that the society at large is benefited in respect of industrial, agricultural and infrastructural development. it has been stated .....

In Re: Advance Ruling P. No. 10 of

Court : Authority for Advance Rulings

Reported in : (1997)224ITR473AAR

..... a business of "providing financial assistance and money market operations". he says that its activities are analogous to those of organisations like the industrial credit and investment corporation of india (icici) or the industrial development bank of india (idbi) which return, and are assessed on, income from business and of ..... 1) 'institutional investor' means any entity other than an individual, being a natural person including but not limited to financial institution, company or corporation, government, state or political subdivision or local authority, that trustees may consider a reputable investor." 13. after a little discussion he was willing also to drop ..... , privatisations and the like. the fund will only invest in projects that at the time of the investment comply with all relevant indian state and central government legislation regarding environmental protection, and such guidelines on environmental protection and social and rehabilitation issues which may be adopted by the .....

In Re: Cyril Eugene Pereira

Court : Authority for Advance Rulings

Reported in : (1999)239ITR650AAR

..... which is for avoidance of double taxation.35. under article 6 of the double taxation avoidance agreement, income from immovable property including income from agriculture or forestry is to be taxed only in the country where such immovable property is situated. the owner of the property may be a resident ..... force in the respective contracting states ; (f) the term 'company' means any body corporate or any entity which is treated as a company or body corporate under the taxation laws in force in the respective contracting states ; (g) the terms 'enterprise of a contracting state' and 'enterprise of the other contracting state' mean respectively, an enterprise ..... shall have the meaning which it has under the law of the contracting state in which the property in question is situated. the term shall in any case include property accessory to immovable property, livestock and equipment used in agriculture and forestry, rights to which the provisions of general law respecting landed property .....

In Re: Anurag Jain

Court : Authority for Advance Rulings

Reported in : (2005)195CTRAAR117

..... purchase agreement) for the transfer of entire 6,75,000 shares of the american company in favour of perot system corporation, a delaware corporation, usa (referred to as "psc") and ps bp services llc; a delaware corporation limited company and a subsidiary of psc (referred to as "psbv"). it is noteworthy that under the stock purchase ..... of meeting revenue targets as agreed to by the sellers and purchasers and that the sale consideration payable to the applicant and mrs. gunjan jain shall be credited to their nri accounts in india. it is clarified that the actual inflow of fdi in the transaction would be $ 2.3 million. the applicant has ..... contemplated by the share purchase agreement. the non-competition agreement is linked to the employment agreement which has nexus with the purchase agreement. indeed, it is stated that the applicant's obligations under the non-competition agreement are a material inducement and condition to the buyer's entering into purchase agreement and the share .....

The Timken Company 1835 Dueber Avenue Sw., Canton, Ohio – 44706 0 ...

Court : Authority for Advance Rulings

..... sought to be remedied by the legislation and the object and purpose for which the legislation was enacted. this has been reiterated in the case of kerala state industrial development corporation ltd (259 itr 51) as under: that the finance ministers speech can be relied upon to throw light on the object and purpose of the particular ..... prepared in accordance with part ii and iii of the schedule vi of the companies act. in the case of the applicant, if items of income are credited in the p/l account without any corresponding debit of the expenditure in the same then the whole of the income would qualify as net profit in the ..... the effective rates of mat have been worked out with reference to domestic companies only: the various exemptions currently available while calculating minimum alternate tax (mat) and the credit system has undermined the efficacy of the existing provision and has also led to legal complications. to address these issues, i propose that the minimum alternate tax be .....

In Re: Xyz/Abc, Equity Fund

Court : Authority for Advance Rulings

..... a mine, an oil or gas well, a quarry or any other place of extraction of natural resources;. (h) a farm, plantation or other place where agricultural, forestry, plantation or related activities are carried on;. (i) a building site or construction or assembly project or supervisory activities in connection therewith, where such site ..... , bank association or partnership, constituted or carrying on business in any part of the world, trust, scheme sponsored by a trust, mutual fund, investment corporation or collective investment scheme in any part of the world, currencies and any rights and interests to or in any of the foregoing (whether issued or to ..... treated as an independent agent. therefore, investment adviser cannot be regarded as a "permanent establishment" of the applicant company. having regard to the facts as stated by the applicant it may be held that the activities done by the investment adviser cannot be converted into "permanent establishment" of the applicant-company in india .....

Joint Stock Company Foreign Economic Association “ Technopromexpo ...

Court : Authority for Advance Rulings

..... and circumstances of the case, whether the amounts received/receivable by joint stock company foreign economic association technopromexport ( applicant or jsc technopromexport) from national thermal power corporation limited ( ntpc) under contract no. cs-9558-102-2-fc-coa-4520 dated 25 march 2005 ( offshore supply contract no. 4520), for offshore supply ..... member, the clauses in the offshore supply contract agreement regarding transfer of ownership, the payment mechanism in the form of letter of credit which ensures the credit of the amount in foreign currency to the applicants foreign bank account on receipt of shipment advice and the insurance clause would go to ..... weight of the shipment, the number and value of bill of lading or airfreight bill and the estimated date of arrival in india. it further states that the contractor shall be responsible for packing, loading, transporting, receiving, unloading, storing and protecting all equipment and materials and/or contractors equipment and .....

Dljmb Mauritius Investment Vs. Commissioner of Income-tax

Court : Authority for Advance Rulings

Reported in : (1997)228ITR268AAR

..... mauritius only and not in india ?" 2. the background in which these questions have been raised may now be briefly stated. dlj is stated to be a leading investment and merchant bank which serves institutional, corporate, governmental and individual clients both domestically and internationally. it is a holding company which conducts its business through various subsidiaries. ..... tax ; " 9. it is pointed out, on behalf of the department, that all the various entities which are proposing the invest their monies are all corporations or partnerships located in the usa. they could have directly invested those monies in india and if they had done so they might not have been able to ..... three principal operating groups for the year ended march 31, 1995, is said to be 2088.77 million u.s. dollars. the applicant-company, as already stated, has been organised as a limited liability company in mauritius. the two subscribers to its memorandum are tiger nominees limited and orchin nominees limited, each of .....

In Re: Application No. P-16 of 1998

Court : Authority for Advance Rulings

Reported in : (1999)236ITR103AAR

..... law relating to companies formerly in force in any part of india (other than the state of jammu and kashmir and the union territories specified in sub-clause (iii) of this clause ; (ia) a corporation established by or under a central, state or provincial act ; (ib) any institution, association or body which is declared by ..... (acquisition and transfer of undertakings) ordinance, 1980, promulgated by the president on the 15th april, 1980. the ordinance was also considered necessary for providing larger credit to priority sectors, for establishing a more effective and meaningful direction and control over the operations of these banks and also for making these banks an integral ..... argument was countered by saying that a foreign banking company is not permitted to carry on business in the agricultural sector. that may be so. but a nationalised bank has to open branches in the agricultural and semi-urban sectors even though such branches may not be profitable. the overriding idea is to provide .....