https://www.taxtmi.com/caselaws?id=39054 The High Court of GUJARAT ruled in favor of the non-resident assessee regarding the applicability of section 172(2) of the Income-tax Act, 1961 to earnings from dead freight. The court held that dead freight amounts are not considered payments for the carriage of goods but rather compensation for cargo deficiency, falling outside the scope of section 172(2). As a result, the Tribunal's decision to exclude dead freight from income computation was upheld, leading to a judgment in favor of the assessee against the revenue, with costs awarded to the assessee. en-us Mon, 19 Jan 1976 00:00:00 +0530 Mon, 12 Apr 2010 12:19:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39054 The High Court of GUJARAT ruled in favor of the non-resident assessee regarding the applicability of section 172(2) of the Income-tax Act, 1961 to earnings from dead freight. The court held that dead freight amounts are not considered payments for the carriage of goods but rather compensation for cargo deficiency, falling outside the scope of section 172(2). As a result, the Tribunal's decision to exclude dead freight from income computation was upheld, leading to a judgment in favor of the assessee against the revenue, with costs awarded to the assessee. Case-Laws Income Tax Mon, 19 Jan 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39054