https://www.taxtmi.com/caselaws?id=439967 The court ruled that charter hire payments for the carriage of goods by ships are subject to tax deduction under Section 194-C, not Section 194-I, based on the definition of "work" under the Income Tax Act. The amendments to Section 194-I align the tax deduction rate with Section 194-C, making the petition regarding Section 194-I's applicability to charter hire income academic from October 2009. The petitioners sought clarification to prevent further tax deduction proceedings, emphasizing completed tax assessments and the limitation period for initiating actions. The court granted an adjournment for the respondents to consider the petitioners' suggestions for concluding the matter. en-us Fri, 30 Jun 2023 00:00:00 +0530 Thu, 06 Jul 2023 07:57:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439967 The court ruled that charter hire payments for the carriage of goods by ships are subject to tax deduction under Section 194-C, not Section 194-I, based on the definition of "work" under the Income Tax Act. The amendments to Section 194-I align the tax deduction rate with Section 194-C, making the petition regarding Section 194-I's applicability to charter hire income academic from October 2009. The petitioners sought clarification to prevent further tax deduction proceedings, emphasizing completed tax assessments and the limitation period for initiating actions. The court granted an adjournment for the respondents to consider the petitioners' suggestions for concluding the matter. Case-Laws Income Tax Fri, 30 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439967