The most comprehensive news portal for Chartered Accountants and Other Professionals around the world.
Sunday, August 26, 2012
Engaging Chartered / Cost accountant firms for preparation of annual accounts, filing of TDS returns etc. of Competition Commission Of India
Competition Commission Of India 
Last Date : 31/08/2012
Engaging Chartered / Cost accountant firms for preparation of annual accounts, filing of TDS returns etc. of the Commission for the year 2012-13.
Address: Competition Commission of India, 4th floor, Hindustan Times House, 18-20, K.G. Marg, New Delhi – 110 001
Phone:
Email:
Last Date : 31/08/2012
Engaging Chartered / Cost accountant firms for preparation of annual accounts, filing of TDS returns etc. of the Commission for the year 2012-13.
Address: Competition Commission of India, 4th floor, Hindustan Times House, 18-20, K.G. Marg, New Delhi – 110 001
Phone:
Email:
Vacancy for CA in Deloitte
Financial Advisory - Real Estate Valuation Services - Associate
Location: Hyderabad, Andhra Pradesh, India
Firm Service: Financial Advisory
Firm Service: Financial Advisory
Reference Code: E13HFANALM-RE
Type of Position: Full-time
Vacancy for articleship in BANSAL GARG & CO
Company Name/Employer Name: BANSAL GARG & CO, CHARTERED ACCOUNTANTS
Job Description: "ARTICLES AND ASSISTANTS WOULD BE REQUIRED FOR AUDITS INCLUDING
STATUTORY AUDITS
TAX AUDITS
COMPANY AUDITS
VAT COMPLIANCE'S
SERVICE TAX COMPLIANCE'S
CORPORATE LAW COMPLIANCES"
Job Location: DELHI AND AUDIT LOCATIONS
Job Description: "ARTICLES AND ASSISTANTS WOULD BE REQUIRED FOR AUDITS INCLUDING
STATUTORY AUDITS
TAX AUDITS
COMPANY AUDITS
VAT COMPLIANCE'S
SERVICE TAX COMPLIANCE'S
CORPORATE LAW COMPLIANCES"
Job Location: DELHI AND AUDIT LOCATIONS
Provisions of section 54EC do not stipulate assessment year in which invest
IT : Provisions of section 54EC do not stipulate assessment year in
which investment is to be made after transfer of capital asset; it only
lays down a condition for investment within 6 months
[2012] 24 taxmann.com 175 (Mumbai - Trib.)
IN THE ITAT MUMBAI BENCH 'C'
Income-tax Officer, Wd. 21(1)(1), Mumbai
v.
Mrs. Chetana H. Trivedi*
[2012] 24 taxmann.com 175 (Mumbai - Trib.)
IN THE ITAT MUMBAI BENCH 'C'
Income-tax Officer, Wd. 21(1)(1), Mumbai
v.
Mrs. Chetana H. Trivedi*
IT/ILT : UK Shipping company eligible for tax relief under article 9(1) of DTAA
IT/ILT : UK Shipping company eligible for tax relief under article 9(1)
of DTAA in respect of slot chartering income if the company operates
ships whether owned by it or not
If slot hire agreements are ancillary to and complement the operation of ships by the enterprise and are not the primary and main activities of the enterprise, slot hire income entitled to relief under article 9
FACTS
• The respondent-assessee incorporated in the United Kingdom and engaged inter-alia in the international transportation of goods. It declared income from shipping operations in its return computed as per section 44B and claimed exemption under article 9(1) of Indo-UK DTAA in respect of its shipping income.
If slot hire agreements are ancillary to and complement the operation of ships by the enterprise and are not the primary and main activities of the enterprise, slot hire income entitled to relief under article 9
FACTS
• The respondent-assessee incorporated in the United Kingdom and engaged inter-alia in the international transportation of goods. It declared income from shipping operations in its return computed as per section 44B and claimed exemption under article 9(1) of Indo-UK DTAA in respect of its shipping income.
ONGC invites tenders from reputed Firms Deloitte,PWC,E & Y & KPMG only
New Solar powered Study lamp by BPL
StudyLiteTM
has been co-created by BPL Techno Vision in collaboration with Sankara
Nethralaya. It is the only study lamp to be certified by Sankara
Nethralaya to be safe for eyes and ideally suited for continuous study
by children above 5 years. StudyLiteTM is also equipped with a
built-in rechargeable back-up which provides light for up to 3 hours
without mains power for uninterrupted studying and can be recharged
using a solar panel or 220 V mains. StudyLiteTM is designed by an award winning product designer - Abhijit Bansod - to make it very stylish and unique.
Click here to Buy BPL SSL 200 LED Study Light
Saturday, August 25, 2012
Hiring Services of Chartered Accountant Firm for Monthly Concurrent Audit of District Health & Family Welfare Society for the financial year 2012-13
District Health And Family Welfare Society
Last Date : 01/09/2012
Hiring Services of Chartered Accountant Firm for Monthly Concurrent Audit of District Health & Family Welfare Society for the financial year 2012-13 under National Rural Health Mission
Address: Chamoli - Uttaranchal - India
Phone:
Email: cmochamoli@gmail.com
Last Date : 01/09/2012
Hiring Services of Chartered Accountant Firm for Monthly Concurrent Audit of District Health & Family Welfare Society for the financial year 2012-13 under National Rural Health Mission
Address: Chamoli - Uttaranchal - India
Phone:
Email: cmochamoli@gmail.com
Vacancy as Joint Director (Finance & Accounts) Competition Commission of India
F. No. A-12011/12/2012-HR
No. of posts: 01
Pay Band & Grade Pay: PB4+ GP Rs8700
Qualification Requirements:
Essential: Officers of All India Services/Central Civil Services Group ‘A’/Indian Audit and Accounts Service/Indian Civil Account Service/Indian Posts and Telegraphs Accounts Service/Indian Defence Accounts Service/Indian Railway Accounts Service working in analogous post/grade or five years experience in the grade pay of Rs.7600 or ten years in the grade pay of Rs.6600 or equivalent with minimum total experience of seven years in Public Finance/Public Budgeting/Expenditure Control.
No. of posts: 01
Pay Band & Grade Pay: PB4+ GP Rs8700
Qualification Requirements:
Essential: Officers of All India Services/Central Civil Services Group ‘A’/Indian Audit and Accounts Service/Indian Civil Account Service/Indian Posts and Telegraphs Accounts Service/Indian Defence Accounts Service/Indian Railway Accounts Service working in analogous post/grade or five years experience in the grade pay of Rs.7600 or ten years in the grade pay of Rs.6600 or equivalent with minimum total experience of seven years in Public Finance/Public Budgeting/Expenditure Control.
DISPUTE RESOLUTION AND TAX-PAYER SERVICES THROUGH INDIRECT TAX OMBUDSMAN, DELHI
Attention of the Customs, Central Excise and Service Tax assessees, Importers, Exporters, Manufacturers, Service Providers and other members of Industry and Trade is invited to "Indirect Tax Ombudsman Guidelines, 2011" hereinafter referred to as 'the Guidelines', which is available in websites of both the Ministry of Finance and Central Board of Excise & Customs, (CBEC). In accordance with the said 'Guidelines', the Government of India has decided to set up the institution of 'Indirect Tax Ombudsman' at seven locations - Delhi, Mumbai, Chennai, Kolkata, Bangalore, Ahmedabad and Lucknow. The undersigned has been appointed as the Indirect Tax Ombudsman, Delhi with jurisdiction over the states of Delhi, Haryana, Punjab, Himachal Pradesh and Jammu & Kashmir.
ST : For billing consumer for electricity consumed, it is necessary to install e
ST : For billing consumer for electricity consumed, it is necessary to
install electricity meters; hence, activity of installation and testing,
etc. of such meters is a service relating to transmission and
distribution of electricity and exempt under Notification No. 45/2010-ST
- [2012] 24 taxmann.com 169 (New Delhi - CESTAT)
ICAI Guidelines for Advertisement for Members in Practice
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (ICAI)
(Set up under the Chartered Accountants Act, 1949)
ICAI Guidelines No.1-CA(7)/ Council Guidelines/01/ 2008, Dated 14th May,2008
(Issued Pursuant to Clause (7) of Part I of the First Scheduleto the Chartered Accountants Act, 1949.)
The
Members may advertise through a write up setting out their particulars
or of their firms and services provided by them subject to the following
Guidelines and must be presented in such a manner as to maintain the
profession'sgood reputation, dignity and its ability to serve the public interest.
1 The
Member(s)/Firm( s) should ensure that the contents of the Write up are
true to the best of their knowledge and belief and are in conformity
with these Guidelines and be aware that the Institute of Chartered
Accountants of India does not own any responsibility whatsoever for such
contents or claims by the Writer Member(s) / Firm(s).
2 Definitions
For the purpose of these Guidelines:
(i) The "Act" means The Chartered Accountants Act, 1949.
(ii) "Institute" means the Institute of Chartered Accountants of India.
Friday, August 24, 2012
President ICAI advocated Rs . 20.00 Crore limit for next year Bank Audit
FROM A MEMBER FROM JAMMU
Dear All,
Yesterday, respected President of our institute along with CA CJS Nanda ji was
present in Jammu. President sir clearly told that this time limit for
branch audit will be 20 crores because earlier limit of 3 crores was set almost 6 years ago, hence this increase is very much due. Hence this
year limit will be 20 cr.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
SHOCKING !!!!!!!
The working of the council to impress upon the RBI is highly objectionable. It clearly shows that they were agreed to Govt. plan of appointing a committee and to get their choice recommendations for appointment of Branch Bank Auditors.In the recent past from the RBI side, there were only two issues in which the ICAI has made two representation to RBI through the office of President. One is about prevailing norm for appointment of Statutory Auditor after
resigning as internal auditor saying it as practice effecting Independence and against the
Code of Ethics. Another matter of concern is of auditing private & foreign
Banks simultaneously while SCA can't go for such audits .As per them this is a clear
disparity in the appointing conditions.They are demanding that SCA should also be eligible to two additional Audits I.e One of a Private Bank and one of a Foreign bank. They are so much concered about 300 SCA firms but whats about the 25000 category II, III & IV firms.I failed to understand why The President office has not taken the cause of Branch Auditors with the RBI as well as with the finance ministry? There is a change in the finance ministry also and this should be taken as opportunity to revive the issue.
I am really shocked and depressed by the version of the President. If they have already agreed to it with RBI then why PDC hosted this drama of MEF form. Why there is an extension of filing the dates for forms by Category II, III & IV firms?As per my knowledge there is a Working
Group of the PDC by a name "Revision in the norms for empanelment of Statutory
Auditors and Other Issues Related to Appointment of Auditors in Public Sector
Banks". This working group keeps in touch with the RBI and there are having regular
meetings of this group with RBI.If i am not wrong the last two meeting happened on 25th April and 7th May,
2012. If it was in their knowledge Why didn't they mentioned in the MEF form ?
The working of the this group be made public so that we can assess a situation where our PDC stand. There are a series of seminars in NIRC ( Against the norms) only. Why the President is allowing such seminars which are nothing just fulfilling the purpose of electioneering ? In none of the seminar the chairman disclose such developments. If this is true then certainly i would like to rename the Committee as Professional Destruction Committee.
CA AMRESH VASHISHT, FCA, LLB,DISA(ICAI)
Member,ICAI Committee For DIRECT TAXES 2011-12
Member,ICAI Committee For Capacity Building of CA Firms 2010-11
Moderator,http://in.groups.yahoo.com/group/ICAI_CIRC_MEERUT_CA
1 1 5, Chappel Street, Meerut Cantt, UP, INDIA.
Phone: 0 1 2 1-2 6 6 1 9 4 6. Cell: 9 8 3 7 5 1 5 4 3 2.
FOLLOW http://twitter.com/caamresh ADD http://www.facebook.com/amresh.vashisht
_
Dear All,
Yesterday, respected President of our institute along with CA CJS Nanda ji was
present in Jammu. President sir clearly told that this time limit for
branch audit will be 20 crores because earlier limit of 3 crores was set almost 6 years ago, hence this increase is very much due. Hence this
year limit will be 20 cr.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
SHOCKING !!!!!!!
The working of the council to impress upon the RBI is highly objectionable. It clearly shows that they were agreed to Govt. plan of appointing a committee and to get their choice recommendations for appointment of Branch Bank Auditors.In the recent past from the RBI side, there were only two issues in which the ICAI has made two representation to RBI through the office of President. One is about prevailing norm for appointment of Statutory Auditor after
resigning as internal auditor saying it as practice effecting Independence and against the
Code of Ethics. Another matter of concern is of auditing private & foreign
Banks simultaneously while SCA can't go for such audits .As per them this is a clear
disparity in the appointing conditions.They are demanding that SCA should also be eligible to two additional Audits I.e One of a Private Bank and one of a Foreign bank. They are so much concered about 300 SCA firms but whats about the 25000 category II, III & IV firms.I failed to understand why The President office has not taken the cause of Branch Auditors with the RBI as well as with the finance ministry? There is a change in the finance ministry also and this should be taken as opportunity to revive the issue.
I am really shocked and depressed by the version of the President. If they have already agreed to it with RBI then why PDC hosted this drama of MEF form. Why there is an extension of filing the dates for forms by Category II, III & IV firms?As per my knowledge there is a Working
Group of the PDC by a name "Revision in the norms for empanelment of Statutory
Auditors and Other Issues Related to Appointment of Auditors in Public Sector
Banks". This working group keeps in touch with the RBI and there are having regular
meetings of this group with RBI.If i am not wrong the last two meeting happened on 25th April and 7th May,
2012. If it was in their knowledge Why didn't they mentioned in the MEF form ?
The working of the this group be made public so that we can assess a situation where our PDC stand. There are a series of seminars in NIRC ( Against the norms) only. Why the President is allowing such seminars which are nothing just fulfilling the purpose of electioneering ? In none of the seminar the chairman disclose such developments. If this is true then certainly i would like to rename the Committee as Professional Destruction Committee.
CA AMRESH VASHISHT, FCA, LLB,DISA(ICAI)
Member,ICAI Committee For DIRECT TAXES 2011-12
Member,ICAI Committee For Capacity Building of CA Firms 2010-11
Moderator,http://in.groups.yahoo.com/group/ICAI_CIRC_MEERUT_CA
1 1 5, Chappel Street, Meerut Cantt, UP, INDIA.
Phone: 0 1 2 1-2 6 6 1 9 4 6. Cell: 9 8 3 7 5 1 5 4 3 2.
FOLLOW http://twitter.com/caamresh ADD http://www.facebook.com/amresh.vashisht
_
ICAI increases fees for Duplicate Certificate of Membership & Certificate of Practice
ICAI increases fees for Duplicate Certificate of Membership & Certificate
of Practice
*Increase in fee for Duplicate Certificate of Membership and Certificate of
Practice as an Associate or Fellow – Amendment to the Regulation 184 of the
Chartered Accountants Regulations, 1988*
This is to inform all concerned that with the issuance of the
*Notification*No.1-CA (7)/145/2012 on August 1, 2012, the fee for
Duplicate Certificate of Membership as an Associate or Fellow as well as C
ertificate of Practice as an Associate or Fellow respectively has been
increased to Five Hundred rupees and fee for any other duplicate
certificateissued under these
regulations has also been increased to Two Hundred Rupees with effect from
August 1, 2012.
The said notification is available on the Institute's website
*www.icai.org*<http://www.icai.org/>at the link
*http://220.227.161.86/27508notification17036.pdf*<http://220.227.161.86/27508notification17036.pdf>for
information of all concerned.
In case of loss/damage of original script certificate of membership or c
ertificate of practice as an associate or fellow, members may file *an
affidavit* to the concerned Regional office of ICAI in the prescribed
format available on the Institute's website
*www.icai.org*<http://www.icai.org/>at the link
*http://220.227.161.86/8604onfo_faidsc.doc*<http://220.227.161.86/8604onfo_faidsc.doc>along
with
application for issuance of duplicate certificate and amount of aforesaid
fees which is payable by cheque (in the case of local members) and by
demand draft, in favour of The Secretary, The Institute of Chartered
Accountants of India, New Delhi or the Decentralized office to which the
members belongs. It is clarified that an affidavit is not required to be
executed if the original mutilated, torn or damaged certificate is returned
to ICAI.
Source- ICAI
of Practice
*Increase in fee for Duplicate Certificate of Membership and Certificate of
Practice as an Associate or Fellow – Amendment to the Regulation 184 of the
Chartered Accountants Regulations, 1988*
This is to inform all concerned that with the issuance of the
*Notification*No.1-CA (7)/145/2012 on August 1, 2012, the fee for
Duplicate Certificate of Membership as an Associate or Fellow as well as C
ertificate of Practice as an Associate or Fellow respectively has been
increased to Five Hundred rupees and fee for any other duplicate
certificateissued under these
regulations has also been increased to Two Hundred Rupees with effect from
August 1, 2012.
The said notification is available on the Institute's website
*www.icai.org*<http://www.icai.org/>at the link
*http://220.227.161.86/27508notification17036.pdf*<http://220.227.161.86/27508notification17036.pdf>for
information of all concerned.
In case of loss/damage of original script certificate of membership or c
ertificate of practice as an associate or fellow, members may file *an
affidavit* to the concerned Regional office of ICAI in the prescribed
format available on the Institute's website
*www.icai.org*<http://www.icai.org/>at the link
*http://220.227.161.86/8604onfo_faidsc.doc*<http://220.227.161.86/8604onfo_faidsc.doc>along
with
application for issuance of duplicate certificate and amount of aforesaid
fees which is payable by cheque (in the case of local members) and by
demand draft, in favour of The Secretary, The Institute of Chartered
Accountants of India, New Delhi or the Decentralized office to which the
members belongs. It is clarified that an affidavit is not required to be
executed if the original mutilated, torn or damaged certificate is returned
to ICAI.
Source- ICAI
Appointment of concurrent auditors for audit of its accounts of state, district, block, schools financial year 12-13.
Bihar Education Project Council
Last Date : 27/08/2012
Appointment of concurrent auditors for audit of its accounts of state, district, block, schools financial year 12-13.
Address: Shiksha Bhawan,Campus of Rastrabhasha Parishad, Saidpur,Rajendra Nagar,Patna-800004
Phone: 0612-2667164
Email:
Last Date : 27/08/2012
Appointment of concurrent auditors for audit of its accounts of state, district, block, schools financial year 12-13.
Address: Shiksha Bhawan,Campus of Rastrabhasha Parishad, Saidpur,Rajendra Nagar,Patna-800004
Phone: 0612-2667164
Email:
Management Trainee - Internal Audit & System Improvement in Lafarge India Pvt. Ltd
Looking for a fresh qualified CA,interested to work
as a Management Trainee in Audit Function. Candidates having good
command over oral & written communication & who have undergone
articleship in Big 4 (PWC,E&Y,Delloitte,KPMG) would be preferred.
Salary:
Not Disclosed by Recruiter
Industry:
Construction, Engineering, Cement, Metals
Functional Area:
Accounts, Finance, Tax, Company Secretary, Audit
Role Category:
Accounts
Role:
Chartered Accountant
VERY IMP NEWS FOR THOSE PURCHASES PROPERTY BETWEEN 2006-2010.
MUMBAI:
Thousands of people who bought flats between 2006 and 2010 will have to
pay value added tax (VAT) at the rate of 5% of the value with
retrospective effect.
On August 6, the state's sales tax department issued a circular to developers saying VAT would be levied on flats, shops and bungalows sold by them between June 20, 2006 and March 31, 2010 .
...
Several Mumbai-based developers said they would soon send VAT collection notices to such flat purchasers.
The new burden on a customer who bought a flat at Rs 50 lakh works out to a minimum of Rs 2.5 lakh.
The government intends to collect around Rs 1,000 crore for this four-year period.
On August 6, the state's sales tax department issued a circular to developers saying VAT would be levied on flats, shops and bungalows sold by them between June 20, 2006 and March 31, 2010 .
...
Several Mumbai-based developers said they would soon send VAT collection notices to such flat purchasers.
The new burden on a customer who bought a flat at Rs 50 lakh works out to a minimum of Rs 2.5 lakh.
The government intends to collect around Rs 1,000 crore for this four-year period.
Thursday, August 23, 2012
Bombay High Court International Taxation Shipping Companies: Scope of Article 8/9 : Slot hiring charges income: Philip Baker/ OECD/ Klaus Vogel referred (Balaji Shipping case)
*Gist of Balaji Shipping order of Bombay High Court on :*
* *
"1) Whether on the facts and circumstances of the case and in law the
income of the assessee by way of slot chartering would form a part of
income from operations of ships exempt under Article 9 of the
Tax Treaty between India and UK ?
*20. The question whether the income attributable to a voyage undertaken
from India by availing the slot hire facilities is liable to be taxed in
India must, in this case, be addressed qua these two situations referred to.
*
* *
*Firstly, where the goods are transported by an enterprise*
*by availing of the slot hire facility obtained by it on the ship of
another from a port in India upto a hub port abroad and from there*
*transporting the goods further to their final destination upon a ship*
*owned or chartered or otherwise controlled by it. (We will refer to this*
*as a case of first type).*
* *
*Secondly, where the goods are transported by the*
*assessee from a port in India directly to their final destination to a*
*port abroad by availing a slot hire facility obtained by it on the ship of*
*another. (We will refer to this as a case of the second type.)*
The respondent/assessee therefore, entered into Slot Hire Agreements (or
Connecting Carrier Agreements) with M/s.Orient Express Lines Limited (OEL),
Mauritius, under which OEL provided container slot spaces to the respondent
on its ships (feeder vessels) on an as and when required basis. Availing
the slot hire facility, the respondent arranged for the
transportation of the goods from ports in India to their final
destinations being international ports or to hubs, also ports outside
India, from where the vessels chartered by the respondent/assessee carried
the cargo onwards to the final destination.
11. The question that falls for consideration therefore, is
whether the freight earned from or attributable to the portion of the
voyage utilizing the Slot Hire Agreements falls within the ambit of
Article 9 of the DTAA. The phrase "operation of ships" is not defined in the
Convention. Nor is it defined in the Act. It has however admittedly
been considered while construing section 44B.
18. Article 9 (1) refers to "Income ... from the operation of
ships ... ". Section 44B refers to profits and gains of "the business of
operation of ships". The ambit of the identical phrases "operation of
ships" in section 44B and Article 9 (1) is the same Both
the provisions relate to the same subject namely taxation. The
comparison between Article 9 (1) and section 44 B is, therefore,
apposite and in accordance with the mandate of Article 3 (3) of the
DTAA. *The words not having been defined in the DTAA must be*
*given the meaning which they have under the laws of India relating to*
*taxes which are the subject of the Convention*. Thus as income from
slot hire agreements fall within section 44 B they must be held to be
within the ambit of Article 9 (1).
*23. A case of the first type clearly falls within Article 9 of the*
*DTAA.*
* *
*Firstly, Article 9 does not require the ship to be owned by*
*an enterprise / assessee. It merely requires the income to be "from*
*the operation of ships in international traffic". There is no warrant for*
*adding to the Article the requirement of the ship being owned by the*
*enterprise. A charter is certainly contemplated by Article 9. So would*
*an enterprise that controls the management/operation of the ship be*
*included in Article 9 even if it does not own the ship. Such enterprises*
*earn income from the operation of ships chartered or otherwise controlled
and managed by them. If Article 9 is to be construed*
*narrowly, as suggested by the appellant, it would be denuded of*
*much of its effect.*
* *
*26. The second type of case poses some difficulty. We are,*
*however, of the view that even such cases fall under Article 9(1).*
*Article 9 would apply in respect of an enterprise that carries on the*
*business of operation of ships in international traffic but for a valid*
*reason is required to transport the cargo availing entirely a slot hire*
*facility obtained by it on a ship of another*.
*28. Our view is supported by the judgment of a Division Bench*
*of the Delhi High Court. It is also in consonance with the various*
*commentaries which deal with similar provisions. We will now refer*
*to the same.*
*29. Mr.Kaka relied upon the judgment of the Delhi High Court*
*in **Director of Income-Tax .vs. KLM Royal Dutch Airlines (2009) 178*
*Taxman 291**.*
* *
"1) Whether on the facts and circumstances of the case and in law the
income of the assessee by way of slot chartering would form a part of
income from operations of ships exempt under Article 9 of the
Tax Treaty between India and UK ?
*20. The question whether the income attributable to a voyage undertaken
from India by availing the slot hire facilities is liable to be taxed in
India must, in this case, be addressed qua these two situations referred to.
*
* *
*Firstly, where the goods are transported by an enterprise*
*by availing of the slot hire facility obtained by it on the ship of
another from a port in India upto a hub port abroad and from there*
*transporting the goods further to their final destination upon a ship*
*owned or chartered or otherwise controlled by it. (We will refer to this*
*as a case of first type).*
* *
*Secondly, where the goods are transported by the*
*assessee from a port in India directly to their final destination to a*
*port abroad by availing a slot hire facility obtained by it on the ship of*
*another. (We will refer to this as a case of the second type.)*
The respondent/assessee therefore, entered into Slot Hire Agreements (or
Connecting Carrier Agreements) with M/s.Orient Express Lines Limited (OEL),
Mauritius, under which OEL provided container slot spaces to the respondent
on its ships (feeder vessels) on an as and when required basis. Availing
the slot hire facility, the respondent arranged for the
transportation of the goods from ports in India to their final
destinations being international ports or to hubs, also ports outside
India, from where the vessels chartered by the respondent/assessee carried
the cargo onwards to the final destination.
11. The question that falls for consideration therefore, is
whether the freight earned from or attributable to the portion of the
voyage utilizing the Slot Hire Agreements falls within the ambit of
Article 9 of the DTAA. The phrase "operation of ships" is not defined in the
Convention. Nor is it defined in the Act. It has however admittedly
been considered while construing section 44B.
18. Article 9 (1) refers to "Income ... from the operation of
ships ... ". Section 44B refers to profits and gains of "the business of
operation of ships". The ambit of the identical phrases "operation of
ships" in section 44B and Article 9 (1) is the same Both
the provisions relate to the same subject namely taxation. The
comparison between Article 9 (1) and section 44 B is, therefore,
apposite and in accordance with the mandate of Article 3 (3) of the
DTAA. *The words not having been defined in the DTAA must be*
*given the meaning which they have under the laws of India relating to*
*taxes which are the subject of the Convention*. Thus as income from
slot hire agreements fall within section 44 B they must be held to be
within the ambit of Article 9 (1).
*23. A case of the first type clearly falls within Article 9 of the*
*DTAA.*
* *
*Firstly, Article 9 does not require the ship to be owned by*
*an enterprise / assessee. It merely requires the income to be "from*
*the operation of ships in international traffic". There is no warrant for*
*adding to the Article the requirement of the ship being owned by the*
*enterprise. A charter is certainly contemplated by Article 9. So would*
*an enterprise that controls the management/operation of the ship be*
*included in Article 9 even if it does not own the ship. Such enterprises*
*earn income from the operation of ships chartered or otherwise controlled
and managed by them. If Article 9 is to be construed*
*narrowly, as suggested by the appellant, it would be denuded of*
*much of its effect.*
* *
*26. The second type of case poses some difficulty. We are,*
*however, of the view that even such cases fall under Article 9(1).*
*Article 9 would apply in respect of an enterprise that carries on the*
*business of operation of ships in international traffic but for a valid*
*reason is required to transport the cargo availing entirely a slot hire*
*facility obtained by it on a ship of another*.
*28. Our view is supported by the judgment of a Division Bench*
*of the Delhi High Court. It is also in consonance with the various*
*commentaries which deal with similar provisions. We will now refer*
*to the same.*
*29. Mr.Kaka relied upon the judgment of the Delhi High Court*
*in **Director of Income-Tax .vs. KLM Royal Dutch Airlines (2009) 178*
*Taxman 291**.*
Chartered Accountant (Fresher) / Min Experience
Dear Candidate,Dear Candidate
PLEASE FILL BELOW MENTIONED DETAILS WHILE REPLYING BACK
WITH YOUR WORD FORMAT RESUME
Current Co Name OR CA FRESHER ......
Current Salary
10 Std Marks in %age
12%Std Marks %age
B.Com/Graduation Marks %age
M.Com% or PG course (If you have done)
CA First Group which Attempt (Please write) Percentage
CA Second Group which attempt (please write) Percentage
CA completed in which year .....pl writ
If Selcted your jonining time .....
ARE YOU WILLING TO WORK IN GURGOAN LOCATION (YES/NO)
ARE YOU OKAY WITH THE SALARY PACKAGE AS 3.5 TO 4 LAKHS P.A
(NON Negeotiable)
My Client- Leading Credit Rating
Job Location- Gurgoan
Salary 3.50 Lakhs to 4 Lakhs Per Annum (NON Negeotiable)
QUALIFIED CHARTERED Accountants only need to apply
Designation- Associate Analyst
Role
To Do the CREDIT RATINGS FOR SME CLIENTS
 Preparing credit rating reports and making rating committee presentations
 Analyzing & evaluating various risks associated with businesses/Industries
 Ratio analysis & Balance Sheet analysis of companies
 Financial, Industry, Operational & Business analysis of companies
 Making site visits to the Manufacturing/Business units of the companies
 Coordinating with top management, bankers & auditors
PLS APPLY - IF YOU ARE OK WITH ABOVE ROLE/LOCATION AND SALARY.
AND LOOKING FOR A LONG TERM CAREER IN A REPUTED ORGANISATION
Please send resume at / you can Call me at 9710407068
Thanks & Regards
R.Rahul
9710407068
PLEASE FILL BELOW MENTIONED DETAILS WHILE REPLYING BACK
WITH YOUR WORD FORMAT RESUME
Current Co Name OR CA FRESHER ......
Current Salary
10 Std Marks in %age
12%Std Marks %age
B.Com/Graduation Marks %age
M.Com% or PG course (If you have done)
CA First Group which Attempt (Please write) Percentage
CA Second Group which attempt (please write) Percentage
CA completed in which year .....pl writ
If Selcted your jonining time .....
ARE YOU WILLING TO WORK IN GURGOAN LOCATION (YES/NO)
ARE YOU OKAY WITH THE SALARY PACKAGE AS 3.5 TO 4 LAKHS P.A
(NON Negeotiable)
My Client- Leading Credit Rating
Job Location- Gurgoan
Salary 3.50 Lakhs to 4 Lakhs Per Annum (NON Negeotiable)
QUALIFIED CHARTERED Accountants only need to apply
Designation- Associate Analyst
Role
To Do the CREDIT RATINGS FOR SME CLIENTS
 Preparing credit rating reports and making rating committee presentations
 Analyzing & evaluating various risks associated with businesses/Industries
 Ratio analysis & Balance Sheet analysis of companies
 Financial, Industry, Operational & Business analysis of companies
 Making site visits to the Manufacturing/Business units of the companies
 Coordinating with top management, bankers & auditors
PLS APPLY - IF YOU ARE OK WITH ABOVE ROLE/LOCATION AND SALARY.
AND LOOKING FOR A LONG TERM CAREER IN A REPUTED ORGANISATION
Please send resume at / you can Call me at 9710407068
Thanks & Regards
R.Rahul
9710407068
Subscribe to:
Posts (Atom)
