Click Here For Best Books On Taxation & Law. Upto 60% Off On Select Titles. Free Shipping & Pay On Delivery!
 

Click Here To Subscribe To Our Free Newsletter

Home › All Judgements › CIT vs. Arthusa Offshore (Uttarakhand High Court)

CIT vs. Arthusa Offshore (Uttarakhand High Court)

Posted on by editor
COURT:
CORAM:
SECTION(S):
GENRE:
CATCH WORDS:
COUNSEL:
DATE: (Date of pronouncement)
DATE: April 23, 2008 (Date of publication)
AY:
FILE:
CITATION:

The word “tax”in Articles 14(2) and 2(1)(b) of the India-USA DTAA includes “surcharge” and for purposes of Article 14(2) which provides that the rate of tax payable by a USA company shall not exceed 15% of the rate payable by domestic companies, the surcharge payable by domestic companies has to be included.

Note: The decision of the ITAT Bombay in Bank of America Vs. DCIT 73 TTJ 51 was disapproved.

Related Posts:

  • DIT (IT) vs. Hyundai Heavy Industries Co. Ltd (Uttarakhand High Court) Section 260A creates a right of appeal and provides that appeal is to be preferred within a period of 120 days. The appeal is to be lodged within 120 days of the receipt of the order. Reading these provisions together, it is clear that what is contemplated by the law…
  • DIT (IT) vs. Schlumberger Asia Services Ltd (Uttarakhand High Court) (Full Bench) Except to state that the said judgment needs re-consideration, no justifiable cause has been shown as to why this Court should take a view different from that of the Delhi High Court, in Mitchell Drilling International Pvt. Ltd.48, more so when the Division Bench of the Delhi High Court has…
  • J. J. Development Pvt. Ltd vs. CIT (Calcutta High Court) The appellant-assessee has referred to a judgment of this Court reported at 114 ITR 689 for the proposition that upon the identity of the person who has put in the money being established by the assessee, the onus is on the Revenue to discredit the explanation offered in terms of…
  • Arun Arya Vs. ITO (J&K High Court) When a calculating tax dodger finds it a profitable proposition to carry on evading taxes over the years, if the only risk to which he is exposed is a monetary penalty in the year in which he happens to be caught. The public in general also tends to lose faith…
  • CIT vs. L&T Finance Ltd (Bombay High Court) Mere using the words that there is concealment of income and / or furnishing inaccurate particulars of income would not in the absence of same being particularized, lead to imposition of penalty. It is only when the specified officer of the Revenue is satisfied that there has been concealment of…
  • S. Rajalakshmi vs. ITO (Bombay High Court) The reopening of assessment u/s 147 on the basis of information in the form of observations of ITAT is on sound footing and which constitutes a tangible material for the purpose of reopening as the assessee did not file her return of income as required u/s 139(1) of the Act…

Related Judgements

  1. CIT vs. Silver Streak (Delhi High Court) 

    High Court deprectaes the practice of the department in mechnaically filing frivolous appeals. Observes that it causes inconvenience and wastes the time of the Court and results in sidelining of important issues. It accordingly imposes costs of Rs. 10,000 on … CIT vs. Silver Streak (Delhi High Court)…
  2. CIT vs. Saumya Leasing (Bombay High Court) 

    Deduction under section 80M can be claimed even in respect of the interim dividend declared for the succeeding financial year before the due date.
  3. Rohitsava Chand vs. CIT (Delhi High Court) 

    Non-compete compensation received by an employee-director for agreeing not to carry on any business activity relating to software development for a period of 18 months constitutes a capital receipt as it is for loss of a source of income. See … Rohitsava Chand vs. CIT (Delhi High Court)…
  4. CIT vs. Scindia HUF (Bombay High Court) 

    The issue of notice under s. 16 (2) W. T. Act {s. 143 (2) I. T. Act} is mandatory for reassessment proceedings. If notice u/s 16 (2) {143 (2)} is not issued, the assessment order passed u/s 17 {s. 147} is not valid.Read more ›
  5. CIT vs. Lazor Syntex & CIT vs. Akshay Textiles Trading (Bombay High Court) 

    In McDowell 154 ITR 148, the Court nowhere said that every action or inaction on the part of the tax payer which results in reduction of tax liability to which he may be subjected to in the future, is to be viewed with suspicion and be treated as a…