2020 (2) TMI 1022

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....bsp; ORAL ORDER (PER : MR. BHARGAV D. KARIA) 1 This Tax Appeal is filed at the instance of the Revenue under Section 260A of the Income Tax Act, 1961 [for short, 'the Act, 1961'] and is directed against the order dated 27th May 2019 passed by the Income Tax Appellate Tribunal, Ahmedabad 'C' Bench, Ahmedabad in ITA No.1338/Ahd/2018 for the assessment year 2013-14. 2. The Revenue has proposed th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he respondent assessee has filed its return of income for the assessment year 2013-14 declaring total loss of Rs. 1,35,18,193/. The Assessing Officer, by order dated 22nd March 2018, finalised the assessment under Section 143(3) of the Act, 1961. 4. Thereafter, the Principal Commissioner of Income Tax [for short, 'the PCIT'] invoked power of revision under Section 263 of the Act, 1961 on the grou....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e order dated 21st March 2018 under Section 263 of the Act, 1961 directed the Assessing Officer to pass fresh assessment order after providing an opportunity of being heard to the respondent assessee in view of the observations made in the order under Section 263 of the Act, 1961. 5. Being aggrieved by the order passed by the PCIT under Section 263 of the Act, 1961, the assessee went before the T....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....gents of the nonresident, ship owner or charter, the agent steps into the shoe of the Principal i.e. shipping company and according to the provisions under Section 172 of the Act, 1961 which provides for shipping business in respect of the nonresidents would be applicable and the provisions of Section 194C or 195 which provides for deduction of tax at source shall not be applicable. The Tribunal,....