Deemed profits for cruise ship passenger receipts treated as taxable business income under new special provision effective next fiscal year. A special computation treats a specified proportion of aggregate passenger carriage receipts of a non-resident cruise ship operator, subject to prescribed conditions, as the profits and gains of business or profession; the deemed amounts consist of amounts paid or payable to the assessee or to any person on its behalf and amounts received or deemed received by or on behalf of the assessee on account of carriage of passengers, overriding the normal computation provisions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deemed profits for cruise ship passenger receipts treated as taxable business income under new special provision effective next fiscal year.
A special computation treats a specified proportion of aggregate passenger carriage receipts of a non-resident cruise ship operator, subject to prescribed conditions, as the profits and gains of business or profession; the deemed amounts consist of amounts paid or payable to the assessee or to any person on its behalf and amounts received or deemed received by or on behalf of the assessee on account of carriage of passengers, overriding the normal computation provisions.
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