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2014 (1) TMI 710 - HC - Income TaxWhether the assessee was acting as agent of charterer or owner of the ship - Held that:- reliance placed on Section 163 of the Act is misplaced - On perusal of the agreement - "charter party" clearly show that 100% freight, less 3.75% commission was payable by charterer to the owner - From the language of this clause read with other relevant clauses, to us, it is clear that the appellant was acting as an agent of the owner and not of the charterer - Having regard to the clauses in the agreement, even the charterer was acting as an agent of the owner and not as an independent charterer within the meaning of Section 172 of the Act - This is evident from the "charter party" agreement, which clearly show that even the so called charterer was also entitled for only commission – Decided against assessee.
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