https://www.taxtmi.com/caselaws?id=22247 The court held that demurrage payable to non-resident ship owners or charterers for delays in loading goods is not taxable under sections 5(2) or 172 of the Income-tax Act, 1961. The demurrage was deemed a compensatory payment for detention of the ship, not extended freight. Section 172 was considered a complete code governing taxation for non-resident ship owners or charterers in occasional shipping business, excluding demurrage for loading delays. The court dismissed the appeals, affirming that the demurrage in question was not subject to taxation under the Income-tax Act. en-us Mon, 03 Jun 1991 00:00:00 +0530 Tue, 08 Dec 2009 13:14:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22247 The court held that demurrage payable to non-resident ship owners or charterers for delays in loading goods is not taxable under sections 5(2) or 172 of the Income-tax Act, 1961. The demurrage was deemed a compensatory payment for detention of the ship, not extended freight. Section 172 was considered a complete code governing taxation for non-resident ship owners or charterers in occasional shipping business, excluding demurrage for loading delays. The court dismissed the appeals, affirming that the demurrage in question was not subject to taxation under the Income-tax Act. Case-Laws Income Tax Mon, 03 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22247