https://www.taxtmi.com/caselaws?id=422576 In a tonnage tax assessment, excess provision written back was treated as part of turnover of core shipping activities for computing incidental income, following the assessee's earlier years, while reimbursement of overheads for managed vessels was remanded for verification of supporting details. Administrative expenses were held not deductible against income assessed under the head income from other sources. Credit for tax paid in earlier years under section 115JAA was also remanded for factual verification and reconsideration. The appeal was thus partly allowed, partly rejected, and partly sent back for fresh examination on the available record. en-us Fri, 13 May 2022 00:00:00 +0530 Mon, 08 Aug 2022 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422576 In a tonnage tax assessment, excess provision written back was treated as part of turnover of core shipping activities for computing incidental income, following the assessee's earlier years, while reimbursement of overheads for managed vessels was remanded for verification of supporting details. Administrative expenses were held not deductible against income assessed under the head income from other sources. Credit for tax paid in earlier years under section 115JAA was also remanded for factual verification and reconsideration. The appeal was thus partly allowed, partly rejected, and partly sent back for fresh examination on the available record. Case-Laws Income Tax Fri, 13 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422576