October 2004

Section 154

Madhya Pradesh H.C : Whether, on the facts and in the circumstances of the case, the Hon’ble Tribunal was justified in law in confirming the order of the learned Dy. CIT(A) cancelling the AO’s order under s. 154 withdrawing investment allowance in respect of drilling machines even though the AO’s action in rejecting such claim of investment allowance was in conformity with the ratio of the decision of the Hon’ble Supreme Court in the case of CIT vs. N.C. Budharaja & Co. & Anr. (1993) 114 CTR (SC) 420 : (1993) 204 ITR 412 (SC) ?

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High Court Of Madhya Pradesh : Indore Bench CIT vs. Mahavir Drilling Co. Section 154 Asst. Year 1987-88 A.M. Sapre

Sec. 5(2), Sec. 9(1)(i), Section 5

AAR : Whether the income derived by the applicant, a company incorporated in and tax resident of Panama, from the transfer of documents containing know-how and technical information, outside India, to EAC Nutrition Ltd. A/s, a corporation incorporated under the laws of Denmark, under the Sale and Purchase of Technology Agreement dt. 30th Nov., 2002 would be taxable in India having regard to the provisions of the IT Act, 1961 ?

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Authority For Advance Rulings Pfizer Corporation, In Re Sections 5(2), 9(1)(i) Syed Shah Mohammed Quadri, J., Chairman; K.D. Singh &

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