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(By V K Shridhar) The applicant, Bourbon Offshore Asia Pte Ltd (BOA), is a company formed and registered under the laws of Singapore and is a tax resident of Singapore. The applicant states that it offers a comprehensive range of highly productive and new generation innovative offshore service vessels to global oil and gas industries. The vessels assist and support offshore drilling and marine operations. The applicant has entered into a time charter vessels hiring agreement on 26 April, 2006 for provisions of its offshore service vessels to Transocean Offshore International Ventures Ltd. (TOIVL) in India. TOIVL is providing various offshore drilling and support services to Oil and Natural Gas Corporation Ltd. (ONGC). For execution of the contract, TOIVL has entered into a uniform time charter vessel agreement with the applicant. Being a time charter agreement, the entire operation, navigation and management of the vessel provided on hire is under the exclusive command and control of t...
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(By V. K. Shridhar) The applicant, Verizon Data Services India Private Limited (VDSI), is a Private Limited company and is incorporated under the provisions of the Indian Companies Act, 1956. It is a wholly owned subsidiary of Verizon Data Services LLC, US (Verizon US). The applicant is engaged in providing services relating to development and maintenance of telecom software solutions and certain information technology enabled services. All services rendered by the applicant are exported from India to its parent company Verizon US. The applicant submits that in order to ensure that efficiency is built into the system and the productivity is optimal, the parent company felt that the applicant needs individuals from US. The requirement was met by sending three of the employees of GTE Overseas Corporation, USA (GTE-OC), an affiliate of the parent company and engaged in a business similar to that of the applicant. Pursuant to it, the applicant entered into a Secondment Agreement with GTE-O...
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(By Mr. V.K. Shridhar) The applicant, OHM Limited, is a company incorporated under the laws of United Kingdom and is a tax resident of United Kingdom. It provides geophysical services to oil and gas exploration industry. It conducts electromagnetic surveys, processing and interpretation of data so acquired through such surveys for offshore oil industry. Petrogas EandP, LLC has awarded contract to the applicant for provision of Marine Magneto Telluric and Transient Electro Magnetic (MMT/TEM) data acquisition, processing and interpretation services in respect of an offshore exploration block MB-OSN-2004/2 in India. The applicant states that these MMT/TEM survey is electromagnetic geophysical method of imaging the earths subsurface. Data acquired through such surveys is further processed using specialized software to get the information about existence of hydrocarbons underneath. The entire process starting from conducting the survey and then processing and interpretation of data acquired...
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(By V K Shridhar) The applicant, Bergen Oilfield Services AS, is a company incorporated under the laws of Norway and a tax resident of Norway. It provides geophysical services to oil and gas exploration industry. It conducts seismic surveys and provides onshore seismic data acquisition and other associated services. Cairn Energy Pvt. Limited (Cairn), India, has awarded contract to the applicant to carry out 3D Marine Seismic Data Acquisition services in PR-OSN-2004/1 Block located in the offshore coastal areas in the states Andhra Pradesh and Tamil Nadu. The applicant states that the services rendered by it will be utilized by the Cairn in its oil exploration and production activities. It is submitted that seismic survey is the first step and most critical part of any oil and gas exploration activity. The services are part of the exploration/prospecting activities for mineral oil and falls under the ambit of section 44BB of the Income-tax Act, 1961(Act). The applicant further states th...
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(By Mr. J. Khosla) The applicant, RR Donnelley India Outsource Private Limited ( for short RRD India) is an Indian company, provides solutions in commercial printing, direct mail, financial printing, product customization, print fulfillment, forms and labels, logistics, call centres, transactional print and mail, print management, online services, digital photography, colour services. It also provides high end support services to the customers identified by its associated enterprises. It further provides data capture and processing services, transcription services, online transaction processing, shared accounting and financial transaction services, health care, insurance, advertising and call center services. 2. The applicant has entered into a data processing services agreement with RR Donnelley Global Document Solutions Group Limited (RRD,UK) effective from 14.11.2006 for efficient discharge of its services to the customers. RRD, UK is a foreign company and is a tax resident of UK. ...
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[By Justice P.K. Balasubramanyan] 1. The applicant has approached this Authority being desirous of obtaining an advance ruling on a transaction which is proposed to be undertaken. The nature of the activity as set out by the applicant in its application is as follows:- ABC International Inc., the applicant is a company incorporated under the laws of United States of America (USA) and is a tax resident of USA. The applicant provides various financial services to its group companies as well as to the other companies. The financial activities consists of wide range of activities including to subscribe, buy, underwrite or otherwise acquire, own, hold, sell or exchange securities or investments of any kind including negotiable instruments, commercial paper etc. As a part of its business, it draws, makes, accepts, endorses, discounts, executes and issues promissory notes, bills of exchange etc. The applicant has been providing financial services to US and Europe entities, and has now started...
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(By V. K. Shridhar) The applicant in AAR No.1006 of 2010 is Goodyear Tire and Rubber Company, USA (GTRC), a company incorporated under the laws of Ohio, USA. The applicant in AAR No.1031 of 2010 is Goodyear Orient Company (Private) Limited, Singapore (GOCPL), a company incorporated under the laws of the Republic of Singapore. The Goodyear India Limited (GIL) is a public company incorporated under the Companies Act, 1956, and listed on the Bombay Stock Exchange. GTRC is the promoter of GIL and presently holds 17,069,215 equity shares representing 74% of the total paid up capital of GIL. The remaining 26% shareholding is presently held by public shareholders. GOCPL is a wholly owned subsidiary of GTRC. 2. The applicant, GTRC, submits that as part of its global corporate strategy, it is contemplating a reorganization of its investment in its Indian arm, GIL. It is seeking to expand the role of its Singapore based GOCPL for the benefit of its other group entities within Asia-Pacific Region...
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(By Mr. V.K.Shridhar) The applicant, D.B. Zwirn Mauritius Trading No. 3 Ltd. is a company incorporated in Mauritius and was issued a Tax Residence Certificate by the Mauritius Tax Authorities. It is engaged in the business of investments in different sectors. The applicant held 5,33,333 equity shares of Quippo Telecom Infrastructure Limited, an Indian company. These were acquired on 19th September, 2007, for a consideration of Rs.2,13,33,320. On 10th November, 2009, the applicant entered into a share purchase agreement to sell these 5,33,333 shares to Geraldton Finance Limited, a Mauritius based company, for a consideration of Rs.5,59.99,965. The applicant realized capital gain of Rs.2,98.67.010. 2. The Applicant has approached this Authority to determine whether by virtue of being a Mauritius resident, it is eligible to the benefits of the India-Mauritius DTAA and hence not subject to tax in India on the capital gains realized. It has sought the ruling of this Authority on the followi...
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(By Mr. J. Khosla) Global Geophysical Services Limited is the applicant company incorporated under the laws of Cayman Islands and therefore it is a non-resident. The applicant is engaged in the business of seismic data acquisition and processing for exploration companies on a worldwide basis. The seismic data (in processed form) is used to create highly accurate images of the earths subsurface which in turn are used by the exploration and production companies for locating potential oil and gas reserves based upon the geology observed. 2 The applicant was awarded a contract by Oil and Natural Gas Corporation Limited (ONGC ) to undertake 3D ocean-bottom cable (OBC) seismic data acquisition and onboard processing in western offshore region, India, 2007-08. It has established a project office at Mumbai after taking the necessary permission from the concerned authorities in order to undertake the work. The applicant again entered into a contract with ONGC for 3D OBC seismic data acquisitio...
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(By Mr. V.K.Shridhar) The applicant, Transworld Garnet Company Ltd, is a company registered under the laws of Canada. It is engaged in the business of mining, processing and supply of industrial garnet. It is holding 74 per cent of the equity share capital in Transworld Garnet India Private Limited (TGI). The applicant acquired the shares in TGI in lots as below: Particulars Dt. of Purchase No. of Shares Value in INR Lot I 03.09.97 3,449,560 34,495,600 Lot II 27.11.98 1,147,606 11,476,060 Lot III 25.06.99 394,700 3,947,000 Lot IV 16.12.99 6,392,748 63,927,480 Total : 11,384,614 113,846,140 The applicant entered into a share purchase agreement on 10.6.2008 with VV Minerals, a partnership firm registered in India for transfer of its shareholding in TGI. The applicant does not dispute that the income arising out of the transfer of shares is income deemed to accrue or arise in India and chargeable to tax under the head capital gains. As the shares have been held for a period of more than ...
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