- Tuesday, December 8, 2009, 2:13
- Income Tax
- 25 views
The applicant is a non-resident shipping Company incorporated under the laws of Switzerland and is in the business of shipping contracts for the transportation of cargo worldwide. During the financial years 2007-08 and 2008-09, the applicant entered into a shipping contract for transportation of cargo from Indian ports to China. The amount of freight for transportation of cargo from the Indian port to a port outside India was invoiced and received by the applicant.
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- Thursday, November 12, 2009, 9:26
- Income Tax Case Laws
- 147 views
Section 172 of the Act 1961 is carefully considered by us. Chapter XV titles as "LIABILITY IN SPECIAL CASES". We have no concern with sections, starting from Section 159, till Section 171 from this Chapter XV. Section 172 comes under sub-title "H.-Profits of nonresidents from occasional shipping business". Title of Section 172 is "Shipping business of non-residents. " For bringing a case under Chapter XV, H of the Act 1961, one has to establish a case of profits of non-r..
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- Tuesday, October 27, 2009, 15:03
- Income Tax
- 18 views
Whether during the previous years relevant to assessment years 2008-09 and 2009-10, the applicant, in the stated facts and circumstances, had a Permanent Establishment in India under Article 5 of India-Switzerland Double Taxation Avoidance Agreement in relation to activity of charter of vessels for transporting cargoes from Indian ports to outside India ?
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- Friday, October 9, 2009, 12:07
- Income Tax Case Laws
- 6 views
CIT vs. G. R. Shipping (Bombay High Court) :- The assessee, engaged in shipping business, owned a barge which was included in the block of assets. The barge met with an accident and sank on 6.3.2000 (AY 2000-01). As efforts to retrieve the barge were uneconomical, the barge was sold on as-is-where- is in May 2001 (AY 2002-03).
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