DREDGING CORPORATION OF INDIA LIMITED,VISAKHAPATNAM vs. ACIT, CIRCLE-3(1), VISAKHAPATNAM

ITA 636/VIZ/2025Status: DisposedITAT Visakhapatnam15 July 2026AY 2016-1726 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the 'Sale of Tender Documents' and 'Liquidated Damages' did not fall under the core or incidental activities of shipping as defined by the Tonnage Tax Scheme. However, it allowed an expenditure related to the Maritime India Summit-2016, finding it to be commercially expedient and beneficial to the assessee's business.

What were the facts?

The assessee, Dredging Corporation of India Limited, claimed certain 'Other Operating Revenue' as exempt under the Tonnage Tax Scheme. The Assessing Officer and the CIT(A) disallowed this claim, treating it as income from non-core activities.

What were the issues?

Whether 'Other Operating Revenue' such as sale of tender documents and liquidated damages are eligible for exemption under the Tonnage Tax Scheme. Whether expenditure related to the Maritime India Summit-2016 is deductible as a business expense.

Which sections of the Income-tax Act were involved?

Section 115VE,Section 115V-I,Section 250,Section 37(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI RAVISH SOOD, HON’BLE & SHRI OMKARESHWAR CHIDARA, HON’BLE

PER OMKARESHWAR CHIDARA, ACCOUNTANT MEMBER:

In the above cited appeals of M/s. Dredging Corporation of India Limited, since the issues are common, inter-linked and most of the issues are covered by the earlier ITAT Orders in the assessee’s own case, all the appeals were clubbed and heard. Accordin

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 37(1)

All 6,995 judgments and leading authorities on Section 37(1) →

Recent GST High Court judgments

Search GST case law →