https://www.taxtmi.com/caselaws?id=202298 HC held that section 172, relating to profits of non-resident occasional shipping businesses, had no application as the assessee is an Indian company and not engaged in occasional shipping. Consequently, the assessee could not rely on section 172 or the CBDT circular of 19 September 1995 to avoid deduction of tax at source on demurrage charges paid to a foreign shipping company. HC found the CIT(A) and ITAT orders based on an erroneous interpretation of law and restored the Assessing Officer's order applying section 40(a)(i), disallowing the deduction. en-us Fri, 16 Oct 2009 00:00:00 +0530 Wed, 26 Nov 2025 15:35:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202298 HC held that section 172, relating to profits of non-resident occasional shipping businesses, had no application as the assessee is an Indian company and not engaged in occasional shipping. Consequently, the assessee could not rely on section 172 or the CBDT circular of 19 September 1995 to avoid deduction of tax at source on demurrage charges paid to a foreign shipping company. HC found the CIT(A) and ITAT orders based on an erroneous interpretation of law and restored the Assessing Officer's order applying section 40(a)(i), disallowing the deduction. Case-Laws Income Tax Fri, 16 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202298