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2013 (9) TMI 14 - ITAT MUMBAIIndia-UK DTAA - income on account of slot chartering - taxable u/s 44 B OR 28 to 43 - Held that:- . In so far as the business of the assessee is concerned, it is undisputed, that it is shipping business. If once, it is accepted it is shipping business then either the DTAA shall apply or section 44B shall apply. The AO has removed the receipts of four ships only because the details could not be produced in respect of less then .5% of receipts. The fact that complete details had been provided to the AO along with the return of income, which includes receipts on these ships also cannot be denied. AO has erred in not considering the receipts of the four ships only because details were not provided for, that itself can not be a ground, because, the AO, has, with him powers to call for third party details/evidence, which he chose to ignore. There is no dispute with regard to the operation of ships in international traffic in case of four ships, whose revenues were less than even .5% of the total revenues of the assessee, hence, in our opinion, the ratio laid down in the case of Balaji Shipping (2012 (8) TMI 681 - BOMBAY HIGH COURT), would fully applies on the assessee. - income from slot hire agreements fall within section 44B they must be held to be within the ambit of Article 9(1) Stock Exchange is providing the entire transaction on BOLT and for that complete service, the SE is charging from its members/brokers. But this is not the case of the assessee. Assessee only provides information regarding the whereabouts of cargo, to its agents/customers. In our opinion, the case of the assessee is different on facts. Also the case of Kotak Securities neither pertained to international taxation nor came under any treaty. Since the issue is already decided by the coordinate Benches in the assessee's own cases in preceding years.
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