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2012 (2) TMI 137 - AT - Income TaxTDS - Payments made to agents of foreign shipping Co. - No application filed with AO under 195(2) - Held That:- Payments made to the agents of foreign shipping companies are claimed to be not taxable in India and there is no material produced before us to controvert the said claim. As per Circular no. 723 dated 19.9.95 in case of ships belonging to non-resident, provisions of section 194C and 195 are not applicable. Apex court in view of G.E.India Technology Centre was of the same view that provisions of 195 and 195(2) cannot be applied.
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