Central Government after determining as to whether or not the
article under investigation is being dumped in India. The final findings
contain the export price ... subsidy
or dumping in relation to import of any article.
40. It would be useful to examine the meaning of the expression in
respect
Products, one of the
Shareholders of the Appellant Group Companies.
26. Article 40 of the Articles of Association of the Appellant Company
stipulates that ... Board of
Directors from time to time. The said Article reads as follows:
"40. The Managing Director may be paid such
remuneration
Products, one of the
Shareholders of the Appellant Group Companies.
26. Article 40 of the Articles of Association of the Appellant Company
stipulates that ... Board of
Directors from time to time. The said Article reads as follows:
"40. The Managing Director may be paid such
remuneration
from April 1, 2005, in view of Article 26(3)
of India USA Treaty disallowance under section 40(a)(i) could not be
made ... made by a Resident,
disallowance under section 40(a)(i) is not attracted, in view of Article
26(1) & (2) of India UK Treaty
Article 3.4.3 read with Article 3.4.6 of
the PPA provides for extension of period for fulfillment of the
Conditions Subsequent as mentioned in Article ... specified in Article 4.7.1(c) i.e. "Force Majeure
Event affecting Seller" and is thus covered under the Article
4.7.3. Article 4.7.3 provides
sustained Rs. 40 lakhs, which we do not
countenance because, the addition of Rs. 40 lakhs, was not based on any material discovered during
search ... admitted
which includes Rs 40 Lakhs. Since Rs. 40 lakhs cannot be attributed to any money, bullion,
jewellery, article or transaction or entry or documents
into fee or charge as S.40(a)(iib) reads is violative of
Article 265 of the Constitution.
11.15 It is submitted that the very ... show that the Legislature
never intended to disallow Taxes under sec 40(a)(iib) of the Act.
11.16 It is impossible to comprehend that when
Australia. Article 24 of the DTAA
between India and Australia deals with elimination of double
taxation. Para 4(a) of this Article provides as under ... chargeable to Indian tax; and".
40. On going through the language of para 4(a) of Article 24 of
the DTAA between India
Article-12 r/w Article-3(2) of
India USA DTAA. Accordingly, the Assessing Officer disallowed the
aforesaid payments under section 40 ... article 3(2) , does not, therefore, necessarily extend to Indo Singaporean
tax treaty that we are concerned with.‖
24. The provisions of Article
taxed. While the assessee has claimed
taxation @ 10% under article 11(2) of the India Cyprus DTAA, the
Assessing Officer has declined the said treaty ... Royalties'] in India as liable td tax
Tat 40%1 as Business Income under Article 7 instead of being liable
