TMI Blog2012 (4) TMI 76X X X X Extracts X X X X X X X X Extracts X X X X ..... issued by the Board as indicated above. - Appeal is dismissed - TAX APPEAL NOs. 172 TO 181 AND 191 & 192 OF 2011 - - - Dated:- 20-3-2012 - BHASKAR BHATTACHARYA, J.B. PARDIWALA, JJ. ORDER Bhaskar Bhattacharya, Actg., CJ. As a common question is involved in all these appeals, they are heard together and are disposed of by this common order. 2. These appeals under section 260A of the Income Tax Act, 1961 [the Act, for short hereafter] are at the instance of the Revenue and are directed against orders passed by the Income Tax Appellate Tribunal, Rajkot Bench, Rajkot in ITA No. 626/Rjt/2010 and analogous appeals for different Assessment Years by which the Tribunal dismissed the appeals preferred by the Revenue against the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad no authority to tax the owner of the ship in India. [ v ] Being dissatisfied, the Revenue preferred appeal before the Tribunal below and by the Tribunal affirmed the order passed by the CIT [Appeals]. 6. Being dissatisfied, the Revenue has come up with the present appeals. 7. After hearing Mr. Bhatt, learned senior Advocate appearing on behalf of the Revenue and after going through the materials on record, we find that there is no dispute that tax has been assessed upon the assessee as agent of a shipping Company situated at UAE. In Tax Appeal No. 172 of 2011, according to the Assessing Officer, 31,500 MT of cargo was loaded at the rate of USD.15-25 and it fetched total income of Rs. 14,77,153 at 7.5% after conversion of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t this stage, it will also be profitable to refer to the provisions contained in Circular No. 333 dated February 2, 1982 issued by the Board which states that the provisions made in DTAA would prevail over the general provisions of the Act. Circular No. 732 dated December 20, 1995 further clarifies that if ships are owned by an enterprise belonging to a country, with which India has entered into an agreement of avoidance of double taxation, and the agreement provides for taxation of shipping profits only in the country of which the enterprises is a resident, no tax is payable by such ships at the Indian ports. 10. After taking into consideration the above circulars issued by the Board and also the provisions contained in Article 8 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
