https://www.taxtmi.com/caselaws?id=391888 The High Court of Bombay disposed of two appeals concerning the interpretation of tax laws for various receipts and deductions across different assessment years. The court clarified the treatment of receipts like "Shipping Agency fees," interest from subsidiary companies, and other receipts in the appellant's accounts for tax computation purposes. It also addressed the tax treatment of demurrage payable to non-resident ship owners/charterers. The court based its decision on a previously disposed appeal with similar legal questions and ruled in favor of the appellants without imposing costs on either party. en-us Mon, 03 Feb 2020 00:00:00 +0530 Sat, 08 Feb 2020 09:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391888 The High Court of Bombay disposed of two appeals concerning the interpretation of tax laws for various receipts and deductions across different assessment years. The court clarified the treatment of receipts like "Shipping Agency fees," interest from subsidiary companies, and other receipts in the appellant's accounts for tax computation purposes. It also addressed the tax treatment of demurrage payable to non-resident ship owners/charterers. The court based its decision on a previously disposed appeal with similar legal questions and ruled in favor of the appellants without imposing costs on either party. Case-Laws Income Tax Mon, 03 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391888