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2006 (8) TMI 121 - AAR - Income TaxReceipt arising to the applicant from the proposed assignment of the turbo charger development and supply agreement dated August 6, 2004, in accordance with the assignment deeds would not be taxable in India – further, the assignee of the IDS agreement is not required to withhold any tax u/s 195 while making remittance to the applicant - plea of the applicant that there was absence of profit element and that payments represented the reimbursement of actual expenditure, was rejected
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