Payment for Net Communication system developed by principal for smooth functioning of shipping business is not FTS

In this Case Hon’ble Supreme Court held that Payments made by the agents to the concerned foreign assessee, for using the facility of Net Communication System, developed by the assessee for smooth functioning of its international shipping business cannot be classified as fees for technical services and would not be chargeable as income under Income Tax Act, 1961. Issue before Supreme Court Whether the High Court is correct in holding that the income from the use of Global Telecommunication Facility called ‘Maersk Net’ can be classified as income arising out of shipping busine...