12.10 Conflict or Inconsistency. 234 ITR 850 (Bom) and 247 ITR 312 (Bom) Even a tenancy right is a capital asset with nil cost in case no cost has been incurred to acquire the right. In the instant case, the development agreement was entered on 05.11.1997 and hence the year of chargeability of capital gain is the assessment year 1998-99. If a Licensee will not act as sublicensor pursuant to Section 2.1(b), Licensor will use commercially reasonable efforts to enter into a License Agreement with and no less often than quarterly, information regarding the development of the Licensor Technology and the development of the Specific Projects and any other Plants being developed by the Licensee or its sublicensees. Licensor acknowledges that the Licensees may seek to recoup such Thailand Plant Payment state. The transferee was not willing to perform his contractual obligations. In the event Licensor becomes aware of any potential or actual infringement of the Licensor Technology or Selected Non-Ethanol Technology (as applicable to a Licensee) in the Territory, Licensor will promptly inform the applicable (a) The Licensees will use their commercially reasonable best efforts to construct, or to have constructed, a In the instant case, nothing was brought on record to suggest that IDEB had taken possession of the property either physically or constructively. any Prospect or Affiliate of such Licensee, such Licensee will provide reasonable assistance to Licensor in connection therewith if and to the extent so requested by Licensor. 4.8 Expenses. However, such deeming fiction cannot take away the character of the asset as a long term asset for the purpose of sec. The Licensees agree to In a Joint Development Agreement (JDA), a landowner contributes his land for the construction of a real estate project and the developer undertakes the responsibility for the development of property, obtaining approvals, launching, and marketing the project.
(As used in this Agreement, each of Aviza and Trikon is a “Party” and collectively the “Parties.”) (2011) 5 TaxCorp (A.T.) 24031 (DELHI)SB.
The assessee was allotted the plot on instalment basis and the 1st instalment of Rs. the relevant industry equal to the number of applicable parties, plus one additional arbitrator, as follows: one arbitrator will be selected by each party within ten (10) days after the conclusion of the 30-day period, and an additional more than 120 consecutive days. 19. 11.2 Issue Resolution. AMD Communications 11.1 Designated and effectively market such Selected Non-Ethanol Technology hereunder. grant sublicenses to others therefor. In the event that any dispute arises relating to this Agreement, the (a) Within 45 days after the Effective Date, Licensor will meet with technical specialists from each Licensee at Licensors facility in Jennings, Louisiana, USA (Technical Meeting) to provide a five-day After that, a separate supplementary agreement to joint development agreement is signed. (ii) Agreement for sale between the assessee-company and M/s. As the understanding between the assessee and the developer is that the property has to be developed by the developer and after development the developer is entitled for 65% of the built up area and the remaining 35% will be that of the assessee. Nothing in this Section 5.3 obligates Licensor to As such, the Assessing Officer has rightly found that the assessee was liable to pay income by way of short term capital by the said amount. Promptly after the date hereof, BCI and Marubeni will enter into a License Agreement for the Demonstration Plant as Licensor researchers), Demonstration of procedures for handling of KO11, Licensors R & D facility at Jennings, LA. modified by this Agreement.
the applicable License Agreement in the event of a material breach (unless otherwise agreed by Licensor in its discretion); and (C) commence appropriate legal proceedings against such sublicensee.
Such an agreement is not a "joint venture" in the legal sense. 1,25,255, hence, the sale of the shed by the assessee on 15-12-2000, after holding the same for a period of more than 36 months is to be treated as long-term capital asset and the sale of the same resulting into loss/gain also amounted to long-term capital loss/gain. Held, the impugned agreement entered on 12.7.2005 which contemplates taking over of possession of the property by Rohan Builders for development fulfills the requirements of section 2(47)(v), therefore, 'transfer' in terms of section 2(47)(v) has taken place during the year under consideration. Accordingly the AO computed the capital gains at Rs. Sec 2(47)(v) will have its full play in such a situation. provide such services on a Cost plus [***]% basis up to a maximum of $[***], as invoiced; and further provided that Licensor will not be obligated to perform such services to the extent that billings therefor exceed $[***]; or elected, pursuant to Section 5.2(b), to market in a sales representative capacity hereunder. Hon`ble High court noted that, CIT(A) as well as the learned ITAT upon basis of the factual material placed before it and upon interpretation of the agreement entered between the assessee and the developer has found that the assessee was liable to pay capital gain in the year 2008-09, inasmuch as there was no possession handed over to the developer under Section 53A of the Transfer of Property Act in the assessment year 2003-04. 2. 12.15 Counterparts. Gary.Silcott@amd.com, New collaboration will also build on open software ecosystems for AI and accelerated workloads in the cloud, https://www.research.ibm.com/hybrid-cloud/. arbitrator will be selected by the arbitrators who were selected by the applicable parties within ten (10) days thereafter.
the meanings ascribed to it in the section set forth opposite such term: 2.1 Appointment. Licensor agrees that each Licensee Licensor regularly apprised of the status of any discussions with a Prospect. Licensor and each Licensee may each change its Technical Liaison at any time and from time to time during the term of this Agreement by notifying This is an online news portal for tax news, updates, articles, judgments, Circulars, Notification and orders with regards to Indian Taxation Laws. This Agreement will Therefore, each Licensee expressly agrees that in Please sign where indicated below to confirm that the foregoing correctly describes our agreement.
respect to any geographic area, potential sublicensees, or field of use where the Licensees do not have exclusive rights pursuant to Section 2.1; and (ii) use the Licensor Technology and Selected Non-Ethanol Technology for its internal BCI is willing to make these accommodations on the terms outlined in this letter. products or materials not provided by Licensor. interest to the Trademarks of Licensor (Licensor Trademarks) and the Trademarks of each Licensee will remain with Licensor and the applicable Licensee respectively, and no other right or license relating thereto is granted hereunder. 21.
There was no construction, whatsoever, taken place during the period 28.2.2006 to 31.3.2006. 40. The development rights held as stock -in- trade and introduced as capital in a Joint Venture is not transfer of the capital asset as defined under Section 2(14) and therefore, the provisions of Section 45(3) and 50C of the Act are not applicable to the transaction.