BUNGE AND CO LTD Vs. INCOME TAX OFFICER
HIGH COURT OF CALCUTTA
BUNGE AND CO.LTD.
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T.K.Basu, J. -
(1.) The petitioner is a limited company incorporated under the laws of the United Kingdom and carries on business, inter alia, of exporting jute goods from India at 8, Old Court House Street, Calcutta.
(2.) According to the petitioner, it has agents in various countries for the sale of its export goods. The said foreign agents are non-residents within the meaning of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). The petitioner pays to its non-resident agents commission in respect of the sales made by them. Some of the non-resident agents act as agents-cum-buyers with the full knowledge and consent of the petitioner and some act as agents only. According to the petitioner, none of the said nonresident agents performs any activity or renders any services in India and their entire activities are in their own countries.
(3.) For the previous year relating to the assessment year 1962-63, a sum of 74,793-5-3 became due and payable by the petitioner to its non-resident agents. The said sum of 74,793-5-3 was duly remitted by the petitioner to the non-resident agents, after obtaining the previous permission from the Reserve Bank of India.;
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