https://www.taxtmi.com/caselaws?id=433479 The Tribunal held that the payments received by the non-resident company from M/s Poompuhar Shipping Corp. Ltd. were not "royalty" but income from shipping operations, to be taxed under section 44B of the Income Tax Act. The Tribunal emphasized the control and possession of the vessel by the owner, the nature of payments linked to shipping services, and distinguished the case from a previous High Court ruling. The appeal was allowed, and the income was to be taxed under section 44B, highlighting the significance of payment nature and operational control in tax liability determination. en-us Fri, 30 Dec 2022 00:00:00 +0530 Tue, 31 Jan 2023 21:30:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433479 The Tribunal held that the payments received by the non-resident company from M/s Poompuhar Shipping Corp. Ltd. were not "royalty" but income from shipping operations, to be taxed under section 44B of the Income Tax Act. The Tribunal emphasized the control and possession of the vessel by the owner, the nature of payments linked to shipping services, and distinguished the case from a previous High Court ruling. The appeal was allowed, and the income was to be taxed under section 44B, highlighting the significance of payment nature and operational control in tax liability determination. Case-Laws Income Tax Fri, 30 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433479