2009 (12) TMI 96

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....Income Tax Appellate Tribunal, Madras 'B' Bench dated 17.07.2003 made in ITA No.872/Mds/1996. For appellant: Mr.K.Subramanian, Standing Counsel for Income Tax Department For respondent : Mr.J.Balakrishnan, for Mr.S.Sridhar JUDGMENT (Judgment of the Court was delivered by K.RAVIRAJA PANDIAN, J.) The revenue is on appeal against the order of the Income Tax Appellate Tribunal dated 17.07.2003 ma....

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....age earned is not taxable as has been decided by the Income Tax Appellate Tribunal, Madras in the assessee's own case for earlier years, but that has not been accepted by the department on the ground that the reference application has been taken out to the High Court and is pending finalisation and as such the demurrage earned is included in freight earnings and assessment was made. The Commission....

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....which is a special provision for computing profits and gains of shipping business in the case of non-residents, under the Explanation that was added by the Finance Act, 1997 with effect from April 1, 1976, expressly provides that demurrage charges or handling charges or any other amount of similar nature shall be regarded as the part of the amount paid or payable to the person engaged in the busin....