https://www.taxtmi.com/caselaws?id=58908 The Appellate Tribunal ITAT BOMBAY-D upheld the decision of the CIT (Appeals) in a case involving the deduction claimed by a non-resident company for slot fee paid to third-party shipping companies. The Tribunal ruled that the slot fee was not deductible under section 44B of the Income-tax Act, 1961, which governs the computation of income for non-resident shipping businesses. Emphasizing the specific provisions of section 44B, the Tribunal held that the tax liability is based on gross income without allowing deductions, rejecting the assessee's claim and affirming that there was no double taxation in this scenario. en-us Thu, 23 Jul 1992 00:00:00 +0530 Wed, 22 Dec 2010 17:12:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58908 The Appellate Tribunal ITAT BOMBAY-D upheld the decision of the CIT (Appeals) in a case involving the deduction claimed by a non-resident company for slot fee paid to third-party shipping companies. The Tribunal ruled that the slot fee was not deductible under section 44B of the Income-tax Act, 1961, which governs the computation of income for non-resident shipping businesses. Emphasizing the specific provisions of section 44B, the Tribunal held that the tax liability is based on gross income without allowing deductions, rejecting the assessee's claim and affirming that there was no double taxation in this scenario. Case-Laws Income Tax Thu, 23 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58908