No tax on income from shipping of foreign vessels under India-Singapore Tax Treaty

Bengal Tiger Line Pte Ltd. Vs DCIT (ITAT Chennai) Conclusion: Income earned by  assessee from shipping operations in India was not taxable in India by virtue of Article 24 of India Singapore DTAA as  the conditions stipulated under Article 24 were not satisfied and  the benefit of Article 8 of India Singapore DTAA was applicable and as per which shipping income of a resident of Singapore was taxable only in Singapore but not in India. Held:  Assessee-company was a resident of Singapore and involved in the business of operation of ships in International Traffic. It was the freight beneficia...