Syed Shah Mohammed Quadri, J. (Chairman) - (1.) 1. This is an application under Section 245Q(1) of the IT Act, 1961 (for short "the Act"). The applicant, Mr. M.H. Yoon, a Korean national, is an employee of International Metro Civil Contractors, (IMCC) which is having its office at Mumbai. The IMCC is a joint venture of Dkyckerhoff & Widmann AG of Germany, two Indian Companies-Larsen & Toubro Limited and IRCON International-Samsung Corporation of South Korea and Shimizu Corporation of Japan. The joint venture has been established to execute a contract for the design and construction of metro corridor for Delhi Metro Rail Corpn. Ltd.
(2.) The applicant seeks advance ruling on the following question: "Whether the applicant, who has been seconded to work in India, qualifies for exemption under Section 10(5B) of the IT Act, 1961." The applicant says that he is a Civil Engineer and a Member of Institute of Civil Engineers, Korea having 10 years experience of working in the field in various countries, He, further states that he is engaged for the design and construction of metro corridor wherein his specialized knowledge and technical expertise which is locally not available in India, is being actually used. He claims that he fulfills the requirement of Section 10(5B) of the Act, therefore, he is entitled to exemption thereunder.
(3.) IN his comments to this application, the Director of IT (INternational Taxation), the jurisdictional CIT, has conceded that having regard to the bio-data of the applicant and offer of his appointment, he is eligible for the exemption under the said provision.;