Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Page of 4794
Press 'Enter' after typing page number.
741 to 760 of 95875 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The Appellate Tribunal considered the taxability of freight income u/s 44B for a foreign company incorporated in Singapore operating ships globally, including in India. The company argued that under Article 8 of the India-Singapore Treaty, shipping income should only be taxed in Singapore, its resident state. The Tribunal held that income from shipping in international traffic is taxable only in the resident state as per the treaty. The Tribunal rejected the application of Article 24 of the Treaty, as the company demonstrated its income was taxed in Singapore on accrual basis. Citing precedent, the Tribunal ruled in favor of the company, directing the deletion of additions to its Indian shipping income. The Appeals of the assesses were allowed.
The Appellate Tribunal considered the taxability of freight income u/s 44B for a foreign company incorporated in Singapore operating ships globally, including in India. The company argued that under Article 8 of the India-Singapore Treaty, shipping income should only be taxed in Singapore, its resident state. The Tribunal held that income from shipping in international traffic is taxable only in the resident state as per the treaty. The Tribunal rejected the application of Article 24 of the Treaty, as the company demonstrated its income was taxed in Singapore on accrual basis. Citing precedent, the Tribunal ruled in favor of the company, directing the deletion of additions to its Indian shipping income. The Appeals of the assesses were allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
