https://www.taxtmi.com/caselaws?id=218311 Profits from operation of ships in international traffic were treated as falling under the India-Switzerland treaty residuary article, because exclusion from the business-profits article did not itself create a separate taxing right under another article. The mutual understanding between the competent authorities supported this reading, and the more beneficial treaty treatment prevailed over Section 44B. Although the Indian agency was regarded as a dependent-agent permanent establishment, Article 22(2) required the relevant right or property to be effectively connected with that permanent establishment. The ships remained assets of the non-resident shipping company and were not economically allocated to the Indian permanent establishment, so mere booking or marketing functions were insufficient. en-us Tue, 06 Nov 2012 00:00:00 +0530 Wed, 30 Oct 2013 18:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218311 Profits from operation of ships in international traffic were treated as falling under the India-Switzerland treaty residuary article, because exclusion from the business-profits article did not itself create a separate taxing right under another article. The mutual understanding between the competent authorities supported this reading, and the more beneficial treaty treatment prevailed over Section 44B. Although the Indian agency was regarded as a dependent-agent permanent establishment, Article 22(2) required the relevant right or property to be effectively connected with that permanent establishment. The ships remained assets of the non-resident shipping company and were not economically allocated to the Indian permanent establishment, so mere booking or marketing functions were insufficient. Case-Laws Income Tax Tue, 06 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218311