TMI Blog2019 (2) TMI 652X X X X Extracts X X X X X X X X Extracts X X X X ..... benefit of tonnage tax provisions contending that the same do not arise out the assessee's core activity of operation of ships - Held that:- The disputed amount under the head "profits on bar / shop sales" is extremely small. We keep such question to be considered in the appropriate cases. With respect to the director's fees, the Tribunal by the impugned judgment has recorded that such fees would ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellant : Mr. Tejveer Singh For the Respondent : Mr. Jitendra Singh ORDER P.C.: 1. The Tax Appeal is admitted for consideration of following substantial questions of law:- (i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in upholding the deletion of addition of ₹ 14,23,075/- being sundry credit balance written back an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the Revenue has urged an additional question which reads thus: Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in holding the profits on Bar / shop sales of ₹ 4,82,654/- and Directors fees of ₹ 12,03,547/- holding it as relatable to core activity of the operation of qualified ships ignoring the fact that the receipts are ancillar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uestion to be considered in the appropriate cases. With respect to the director's fees, the Tribunal by the impugned judgment has recorded that such fees would have been allowed as an expenditure and therefore, refund of the same should be treated as income directly relatable to the core activity. It would appear, therefore, that the refund of the director's fees would only give rise to th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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