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TMI Blog2008 (3) TMI 211X X X X Extracts X X X X X X X X Extracts X X X X ..... he Respondent. [Order per: M. Veeraiyan, Member (T)]. - Heard both sides extensively on the stay petition. 2. The applicants have entered into agreements with foreign companies like Tansocean, M/s. Sedco, Tide Water Marine etc. in connection with their setting up of projects or undertaking certain works in India for companies like ONGC, Reliance etc. In terms of the agreements, which are termed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the applicants took us extensively through the clauses of the agreements and submitted that, they are not agreements for consultancy or advice work, but they are more in the nature execution of work. Even if they are treated as agreements for 'Consultancy Services', the same cannot be treated as relating to that of 'Management Consultant'. He drew our attention to the definition of 'Management C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f demand of Rs. 3.16 crores from M/s. Jubiliant Enpro (P) Ltd., as per the agreement, they were required to receive the payment for the services in dollar from the foreign based firm, but in view of the Government regulations they received the said service charges from Indian companies like ONGC etc. in Indian rupees. In spite of receiving the payment in Indian rupees, it should be treated as expo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on from the Indian Institute of Management, Ahmedabad. 7. We have considered the submissions and perused the records. The claim that the agreements are for execution of work and not relating to rendering consultancy/advice is not prima facie, acceptable to us. The cases are arguable ones as the same raises several contentious issues and required to be considered in detail at the time of final hea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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