2016 (1) TMI 1065

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....rkar, Chairman, Shri S.S. Rana, Member (Revenue) And R. S. Shukla, Member (Law) For the Applicant : Shri Sunil Gupta, Advocate For the Respondent : Shri Amresh Jain, Departmental Representative RULING The applicant herein has entered into a Memorandum of Understanding (MoU for short) with one foreign firm IDEAS (i.e. IDEAS Management Consultants, Oman). Under that Memorandum of Underst....

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....ng the books from IDEAS ( i.e. IDEAS Management Consultants, Oman) and will be further selling them to the Indian entities. There can be no doubt about this proposition, though Shri Jain raises a doubt on the basis of the objection raised by the concerned Commissioner. In our opinion, the concerned Commissioner had not read the application properly. 3. According to Shri Jain, the MoU also cover....

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.... We do not agree. It is a simple transaction between the Distributor and IDEAS that if the Distributor comes to know about any error that shall be corrected and the extra expenditure required to be made by IDEAS would be reimbursed separately. We do not see any element of 'service' in this. Shri Jain also invites our attention to clause 4 of the Memorandum of Understanding (MoU for short) which sa....