https://www.taxtmi.com/caselaws?id=75412 The High Court of Madras ruled in favor of the revenue department in an appeal regarding demurrage charges received by a non-resident company for the assessment year 1993-94. The court held that demurrage charges should be included in the total income based on the Explanation to section 44B of the Income Tax Act, which mandates such inclusion for non-resident shipping businesses. The decision overturned the Commissioner of Income Tax (Appeals) ruling in favor of the assessee, emphasizing the taxable nature of demurrage earnings. en-us Tue, 15 Dec 2009 00:00:00 +0530 Wed, 14 Apr 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75412 The High Court of Madras ruled in favor of the revenue department in an appeal regarding demurrage charges received by a non-resident company for the assessment year 1993-94. The court held that demurrage charges should be included in the total income based on the Explanation to section 44B of the Income Tax Act, which mandates such inclusion for non-resident shipping businesses. The decision overturned the Commissioner of Income Tax (Appeals) ruling in favor of the assessee, emphasizing the taxable nature of demurrage earnings. Case-Laws Income Tax Tue, 15 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75412