The transportation of passengers, mails or cargo etc. by the assessee in the international traffic by the aircraft as owner/ charterer/ lessee would fall within the scope of Article 8 of the Indo-US Tax Treaty and therefore, profits attributed to the same cannot be taxed in India; further, the profits from inland transportation directly connected with such transportation would also not be taxable in India.
At least seven people were injured when a major fire broke out in the Income Tax Office (ITO) in New Delhi on Friday, Apr 2.According to officials, the blaze broke out in the fourth floor of the D-shape building at 11.15 am when some labourers were engaged in wood work.
