9911796707
TMI Blog2004 (10) TMI 74X X X X Extracts X X X X X X X X Extracts X X X X ..... of the two aircrafts leased to respondent No. 3 company. - It is clear that for getting the benefit of the aforesaid provision, the approval of the agreement by the Central Government is a must. In the instant case, admittedly, there is no approval by the Central Government. - It is contended by the Revenue that petitioner No. 3 was not a party to the agreement. However, it is not for this court ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rafts leased to respondent No. 3; and (iii) direction be issued to the Central Board of Direct Taxes to refund the amount of Rs. 10,98,42,772 withheld and paid under section 195 of the Act in respect of the lease rents paid to the owner of the aircrafts. In the alternative, it is prayed that a direction be issued directing the Central Board of Direct Taxes to reconsider the application under secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g an agreement entered into between the 1st day of April, 1997, and the 31st day of March, 1999, and approved by the Central Government in this behalf. Explanation- For the purposes of this clause, the expression 'foreign enterprise' means a person who is a non-resident;" It is clear that for getting the benefit of the aforesaid provision, the approval of the agreement by the Central Governmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the petitioners are not entitled to claim any relief in this petition. We are not entering into any dispute at this stage as the Central Government was approached by petitioner No. 3 in this behalf by way of an application. The same was rejected without a speaking order. It is contended by the Revenue that petitioner No. 3 was not a party to the agreement. However, it is not for this court t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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