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JUDGMENT
Dipak Misra, J.
electricity.
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(Rs.5.4 Crores).
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deduct tax and pay the same to the credit of the Central
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approach the High Court in W.P. No. 6866 of 1995 for issue
In the writ petition, the stand and stance put forth before
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for the loan but also to render several other financial and
that the services rendered by the NRC were not a one time
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the fact that the company had contracted the NRC not only
for the limited purpose of getting loan but also for the
justified.
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project and pursuing the same; that the NRC did not have
and that the success fee did not accrue or arise to the NRC
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consideration:
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connection.
10. After culling out the principles, the High Court referred
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between the petitioner company and the NRC had not been
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view, the High Court opined the assessee was not entitled to
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also took note of the fact that the said case was quoted with
and vide its order of the same date, the matter was referred
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(1990) 183 ITR 43 (SC); [(1989) Supp. 2 SCC 642]
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thus:
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had set out in the beginning. The first question reads thus:
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And thereafter:
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18. We have heard Mr. U.A. Rana, learned counsel for the
respondents.
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been withdrawn, and the same accordingly has not been gone
of the Act.
India. The revenue has not advanced a case that the income
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income by the Indian assessee i.e. the payer, for the purpose
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utilized in India.
United Nations that was formed after the Second World War,
With the efflux of time, there has been birth of nation States
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agreements.
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theory and does not fall foul of the said doctrine on the
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consultancy is utilized.
residence.
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violated.
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scheme for raising requisite finances and tie-up loans for the
expeditious manner.
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follows:
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30. The said letter was placed before the Board of Directors
is extracted hereinbelow:
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India (IDBI) which acted as a lead financier for the rupee loan
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the NRC, can be said with certainty would come within the
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.........................................................J.
[SUDHANSU JYOTI MUKHOPADHAYA]
..........................................................J.
[DIPAK MISRA]
NEW DELHI
FEBRUARY 18, 2015.
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