https://www.taxtmi.com/caselaws?id=34630 The ruling determined that the non-resident shipping company did not have a Permanent Establishment (PE) in India under the India-Switzerland Double Taxation Avoidance Agreement (DTAA). Additionally, the income from chartering vessels for transporting cargo from Indian ports to outside India was held to be liable to tax in India under the Income Tax Act, 1961, and not covered by the DTAA. The decision was made on 30th September 2009, allowing the applicant to retract its option for assessment under Section 172(7) of the IT Act for the year 2008-09. en-us Wed, 30 Sep 2009 00:00:00 +0530 Tue, 03 Nov 2009 14:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34630 The ruling determined that the non-resident shipping company did not have a Permanent Establishment (PE) in India under the India-Switzerland Double Taxation Avoidance Agreement (DTAA). Additionally, the income from chartering vessels for transporting cargo from Indian ports to outside India was held to be liable to tax in India under the Income Tax Act, 1961, and not covered by the DTAA. The decision was made on 30th September 2009, allowing the applicant to retract its option for assessment under Section 172(7) of the IT Act for the year 2008-09. Case-Laws Income Tax Wed, 30 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34630