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2012 (2) TMI 75 - AAR - Income TaxOff-shore supplies & services - applicant being Hong Kong company – project awarded by Petronet - consortium formed with an Indian company(CINDA), to execute the project - CTCI responsible for off-shore supplies & services & CINDA for onshore supplies - Revenue contending that the consortium formed by CTCI and CINDA is an AOP and payments made by Petronet should be taxed in India – Held that:- All that is income in the transaction for supplies has not arisen in India as the right, title, payments, etc, in the supplies have passed on to Petronet which is importing these supplies outside India. The ownership vests with Petronet who imported these supplies. Further, all such issues, including whether the contract is composite and indivisible, have been addressed in the case of Ishikawajima Harima Heavy Industry (2007 - TMI - 3467 - Supreme Court ). Therefore, amount received/receivable by applicant for offshore supplies is not liable to tax in India under the provisions of the Act, in view of the decision of Supreme Court in IHHI - Decided in favor of assessee.
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