Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

Capgemini S.A., C/o Kalyaniwalla & Mistry Versus ADIT (International Taxation) -1 (2) , Mumbai

2016 (3) TMI 1096 - ITAT MUMBAI

Income accrue or deemed to be accrued in India - Taxing corporate guarantee commission under Article 23 of DTAA between India and France - Held that:- From the record we found that guarantee commission received by France company did not accrue in Ind .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

because the guarantee has been given by the assessee, a French company to BNP Paribas, a French Bank, in France and, therefore, Article 23.3 has no applicability as income does not arise in India. - The assessee is also aggrieved for not grantin .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Bulsara Revenue by : Shri Jasbir Chauhan O R D E R PER R.C.SHARMA (A.M): This is an appeal filed by the assessee against the direction of DRP-I, Mumbai, dated 5-9-2012, for the assessment year 2009-2010, in the matter of order passed u/s.144C(5) of t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

are that the assessee is a resident of France and does not have a permanent establishment in India. During the year assessee has given a corporate guarantee BNP Paribas, a French Bank in France, on behalf of its various subsidiaries worldwide. During .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

he extent of USD 15 million4and 2 million respectively, were secured by the said corporate guarantee given by the assessee. The assessee has charged guarantee commission @ 0.5% per annum for the corporate guarantees given on behalf of its subsidiarie .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

he AO taxed the guarantee commission on the plea that guarantee has been provided for the purpose of raising finance by an India company. As per the AO finance was raised in India. The AO further observed that finance requirement is met by a Indian b .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version