2019 (2) TMI 652

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....ted for consideration of following substantial questions of law:- "(i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in upholding the deletion of addition of Rs. 14,23,075/- being sundry credit balance written back and Rs. 95,78,424/- being excess provisions written back, which was assessed income by the Assessing Officer, by holding that Tonnage Ta....

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....olding the profits on Bar / shop sales of Rs. 4,82,654/- and Directors fees of Rs. 12,03,547/- holding it as relatable to core activity of the operation of qualified ships ignoring the fact that the receipts are ancillary profits beyond the first degree nexus and therefore, not entitled for being considered as the profits from the business of operation of ships, hence, not eligible for the benefit....