https://www.taxtmi.com/caselaws?id=419046 The court concluded that payments made by the petitioner for hiring tugs and barges were assessable under Section 44BB of the Income Tax Act, 1961. The Assessing Officer and Director of Income Tax (International Taxation) were found to have erred in classifying the payments as "Royalty" and not covered under Section 44BB. Consequently, the court quashed and set aside the previous orders, declaring the petitioner entitled to all consequential benefits as per the law. en-us Mon, 28 Feb 2022 00:00:00 +0530 Fri, 29 Apr 2022 14:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419046 The court concluded that payments made by the petitioner for hiring tugs and barges were assessable under Section 44BB of the Income Tax Act, 1961. The Assessing Officer and Director of Income Tax (International Taxation) were found to have erred in classifying the payments as "Royalty" and not covered under Section 44BB. Consequently, the court quashed and set aside the previous orders, declaring the petitioner entitled to all consequential benefits as per the law. Case-Laws Income Tax Mon, 28 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419046