Islamic Republic of Iran Shipping Lines v. DCIT

Deputy Commissioner of Income Tax (It)-3(1)(2), Mumbai vs. M/S Korea Marine Transport Co. Ltd, Mumbai

In the result, the appeals filed by the revenue are dismissed

…could not be included in the gross receipts of the assessee for computing its income under Sec. 44BB.Still further, we find that a coordinate bench of the Tribunal in the case of Islamic Republic of Iran Shipping lines Vs. DCIT (International Taxation) (2011) 46 SOT 101 (URO) had also concluded that as service tax which was collected by the assessee from its customers on behalf of the government, did not involve any element of profit, therefore, the same was not liable to be included in the total receipts for determining the presumptive income of the assessee under Sec.44B of the Act. We further find that another…

Koras Marine Transport Co. Ltd, Mumbai vs. DCIT (It) 3(1)(2), Mumbai

In the result, appeal of the assessee is allowed

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Blem/S. Korea Marine Transport V. D.C.I.T (International Taxation) – 3(1)(2) Room No. 1605, 16Th Floor, Company Limited Air India Building, Nariman Point, C/O. Sea Horse Ship Agencies (P.) Ltd. Sea Horse House, 30/32, Mumbai – 400 021 Marzben Street, Ballard Estate, Mumbai – 400 001 Pan: Aacck 1101 F (Appellant) (Respondent) Assessee By : Shri Sandesh Desai Department By : Shri Manoj Kumar Singh

…ould not be included in the gross receipts of the assessee for computing its income under Sec. 44BB. Still further, we find that a coordinate bench of the Tribunal in the case of Islamic Republic of Iran Shipping lines Vs. DCIT (International Taxation) (2011) 46 SOT 101 (URO) had also concluded that as service tax which was collected by the assessee from its customers on behalf of the government, did not involve any element of profit, therefore, the same was not liable to be included in the total receipts for determining the presumptive income of the assessee under Sec.44B of the Act. We further find that another…

DCIT (It) 3(1)(2), Mumbai vs. Korean Marine Transport Co. Ltd, Mumbai

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Shamim Yahya, Am & Shri Ravish Sood, Jm M/S Korea Marine Transport Co. Ltd. Deputy Commissioner Of Income C/O Sea Horse Ship Agencies P. Ltd , Tax (Int. Tax)- 3(1)(2), बिधम/ Mumbai Sea Horse House, 30/32, Vs. Marzben Street, Ballard Estate, Mumbai 400001 स्थामीरेखासं./ जीआइआयसं./ Pan No.Aacck1101F (अऩीराथी / Appellant) (प्रत्मथी / Respondent) : Deputy Commissioner Of M/S Korean Marine Transport Co. Ltd. Income Tax (Int. Tax)- 3(1)(2), Sea Horse House, 30/32, Adi Marzben बिधम/ Room No. 113, 1St Floor, Street, Ballard Eatate, Vs. Scindia House, Ballard Estate, Mumbai 400001 Mumbai-400038 स्थायीलेखासं./ जीआइआरसं./ Pan No.Aacck1101F (अऩीराथी / Appellant) (प्रत्मथी / Respondent) :

…could not be included in the gross receipts of the assessee for computing its income under Sec. 44BB.Still further, we find that a coordinate bench of the Tribunal in the case of Islamic Republic of Iran Shipping lines Vs. DCIT (International Taxation) (2011) 46 SOT 101 (URO) had also concluded that as service tax which was collected by the assessee from its customers on behalf of the government, did not involve any element of profit, therefore, the same was not liable to be included in the total receipts for determining the presumptive income of the assessee under Sec.44B of the Act. We further find that another…

Korea Marine Transport Co.Ltd, Mumbai vs. DCIT (It) 3(1)(2), Mumbai

The appeal of the revenue is dismissed in terms of our aforesaid observations

Bench: Shri Shamim Yahya, Am & Shri Ravish Sood, Jm M/S Korea Marine Transport Co. Ltd. Deputy Commissioner Of Income C/O Sea Horse Ship Agencies P. Ltd , Tax (Int. Tax)- 3(1)(2), बिधम/ Mumbai Sea Horse House, 30/32, Vs. Marzben Street, Ballard Estate, Mumbai 400001 स्थामीरेखासं./ जीआइआयसं./ Pan No.Aacck1101F (अऩीराथी / Appellant) (प्रत्मथी / Respondent) : Deputy Commissioner Of M/S Korean Marine Transport Co. Ltd. Income Tax (Int. Tax)- 3(1)(2), Sea Horse House, 30/32, Adi Marzben बिधम/ Room No. 113, 1St Floor, Street, Ballard Eatate, Vs. Scindia House, Ballard Estate, Mumbai 400001 Mumbai-400038 स्थायीलेखासं./ जीआइआरसं./ Pan No.Aacck1101F (अऩीराथी / Appellant) (प्रत्मथी / Respondent) :

…could not be included in the gross receipts of the assessee for computing its income under Sec. 44BB.Still further, we find that a coordinate bench of the Tribunal in the case of Islamic Republic of Iran Shipping lines Vs. DCIT (International Taxation) (2011) 46 SOT 101 (URO) had also concluded that as service tax which was collected by the assessee from its customers on behalf of the government, did not involve any element of profit, therefore, the same was not liable to be included in the total receipts for determining the presumptive income of the assessee under Sec.44B of the Act. We further find that another…

China Shipping Container Lines ( Hong Kong) Co. Ltd, Mumbai vs. DDIT (It) RG 1(2), Mumbai

In the result, the assessee’s appeal for A

Bench: Shri Jason P. Boaz & Shri Ram Lal Negi M/S. China Shipping Container Dy. Director Of Income Tax Lines (Hong Kong) Co. Ltd. (Intl. Taxation) Range-1(2) Dynasty Business Park Room No. 119, 1St Floor Vs. Unit Nos. 608-611, Andheri- Scindia House, Ballard Pier Kurla Road, Andheri (E) Mumbai 400038 Mumbai 400059 Pan – Aaccc5161B Appellant Respondent

…unt of similar nature 'to fall within the purview of section 44B of the IT Act; 1.4 The learned DDIT erred in not following the decision of the Hon'ble jurisdictional Income Tax Appellate Tribunal in the case of Islamic Republic of Iran Shipping Lines v DDIT (46 SOT 101); 1.5 The learned DD1T failed to appreciate that the amount of service tax collected by the Appellant and subsequently deposited with the government treasury does not entail any profit element, as such it should not form part of total income under Section 44B of the Act. The Appellant humbly prays that the learned DDIT be directed not to include s…