Bombay High Court Dismisses Revenue's Appeal in Shipping Income Tax Case — Income from Operation of Ships in International Waters Not Taxable in India Under Article 8 of India-Singapore DTAA. The court held that the assessee, a Singapore tax resident, is not liable to tax in India on income from shipping operations as the DTAA allocates taxing rights to Singapore....
The case involves an appeal by the Commissioner of Income Tax (International Taxation) against the order of the Income Tax Appellate Tribunal (ITAT) which had deleted an addition of Rs. 1,50,00,000 ma...
