Poompuhar Shipping Corporation Ltd. v. ITO

360 ITR 257High Court2014#3058 most cited

What is Poompuhar Shipping Corporation Ltd. v. ITO authority for?

The 'use or right to use' of an asset, which is a condition for royalty income, is satisfied when possession and control are given to the hirer for their beneficial use, even if the owner retains ultimate ownership.

39

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2026.

Also referred to as

Poompuhar Shipping Corporation Ltd. v. ITO · 360 ITR 257 · royalty income · use or right to use · possession and control · beneficial use · hire of vessel · section 9(1)(vi)

Also reported as

38 Taxmann.com 150

Sections most often in play

Section 127ASection 143(3)Section 144CSection 144C(10)Section 144C(13)Section 144C(5)Section 144C(8)Section 153

Issues it is cited on

use of equipmentsection 44bbsection 44bsection 9(1)(vi)section 90(2)retrospective amendmentroyalty incomewithholding taxsection 9(1)tax treatybusiness connectionsection 144c(5)

Judgments citing Poompuhar Shipping Corporation Ltd. v. ITO

Deputy Commissioner of Income Tax Circle-2(2) International Taxation, Bangalore vs. M/S Vodafone South Ltd, Bangalore

In the result, all three Stay petitions are dismissed, five appeals of the assessee for A

ITA 1177/BANG/2017[2014-15]Status: DisposedITAT Bangalore28 Nov 2019AY 2014-15

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 201

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment ITA Appeal No. Appellant Respondent Years IT(IT)A Nos. 1160 M/s. Vodafone Idea Ltd., 2013-14 & The Deputy Director of & 1161/Bang/2015 Maruthi Infotech Centre, 2014-15 Income Tax, 11/1, 12/1, Koramangala (International Tax), IT(IT)A No. Amar Jyoti Layout, Circle 1 (1), 2015-16 2818/Bang/2017 Bangalore – 71. Bangalore. PAN: AABCB5847L The Deputy Commissioner of IT(IT)A No. Income Tax, 2013-14 M/s. Vodafone Idea Ltd., 1367/Bang/2015 (International Tax…

Deputy Commissioner of Income Tax Circle-2(2) International Taxation, Bangalore vs. M/S Vodafone South Ltd, Bangalore

In the result, all three Stay petitions are dismissed, five appeals of the assessee for A

ITA 1176/BANG/2017[2013-14]Status: DisposedITAT Bangalore28 Nov 2019AY 2013-14

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 201

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment ITA Appeal No. Appellant Respondent Years IT(IT)A Nos. 1160 M/s. Vodafone Idea Ltd., 2013-14 & The Deputy Director of & 1161/Bang/2015 Maruthi Infotech Centre, 2014-15 Income Tax, 11/1, 12/1, Koramangala (International Tax), IT(IT)A No. Amar Jyoti Layout, Circle 1 (1), 2015-16 2818/Bang/2017 Bangalore – 71. Bangalore. PAN: AABCB5847L The Deputy Commissioner of IT(IT)A No. Income Tax, 2013-14 M/s. Vodafone Idea Ltd., 1367/Bang/2015 (International Tax…

Deputy Commissioner of Income Tax, Bangalore vs. M/S.Vodafone South Ltd., New Delhi

In the result, all three Stay petitions are dismissed, five appeals of the assessee for A

ITA 1313/BANG/2016[2014-15]Status: DisposedITAT Bangalore28 Nov 2019AY 2014-15

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 201

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment ITA Appeal No. Appellant Respondent Years IT(IT)A Nos. 1160 M/s. Vodafone Idea Ltd., 2013-14 & The Deputy Director of & 1161/Bang/2015 Maruthi Infotech Centre, 2014-15 Income Tax, 11/1, 12/1, Koramangala (International Tax), IT(IT)A No. Amar Jyoti Layout, Circle 1 (1), 2015-16 2818/Bang/2017 Bangalore – 71. Bangalore. PAN: AABCB5847L The Deputy Commissioner of IT(IT)A No. Income Tax, 2013-14 M/s. Vodafone Idea Ltd., 1367/Bang/2015 (International Tax…

Deputy Commissioner of Income-Tax, Bangalore vs. M/S. Vodafone South Ltd., New Delhi

In the result, all three Stay petitions are dismissed, five appeals of the assessee for A

ITA 1312/BANG/2016[2013-14]Status: DisposedITAT Bangalore28 Nov 2019AY 2013-14

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 201

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment ITA Appeal No. Appellant Respondent Years IT(IT)A Nos. 1160 M/s. Vodafone Idea Ltd., 2013-14 & The Deputy Director of & 1161/Bang/2015 Maruthi Infotech Centre, 2014-15 Income Tax, 11/1, 12/1, Koramangala (International Tax), IT(IT)A No. Amar Jyoti Layout, Circle 1 (1), 2015-16 2818/Bang/2017 Bangalore – 71. Bangalore. PAN: AABCB5847L The Deputy Commissioner of IT(IT)A No. Income Tax, 2013-14 M/s. Vodafone Idea Ltd., 1367/Bang/2015 (International Tax…

DCIT, Bangalore vs. M/S Vodafone South Ltd., New Delhi

In the result, all three Stay petitions are dismissed, five appeals of the assessee for A

ITA 1367/BANG/2015[2013-14]Status: DisposedITAT Bangalore28 Nov 2019AY 2013-14

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 201

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment ITA Appeal No. Appellant Respondent Years IT(IT)A Nos. 1160 M/s. Vodafone Idea Ltd., 2013-14 & The Deputy Director of & 1161/Bang/2015 Maruthi Infotech Centre, 2014-15 Income Tax, 11/1, 12/1, Koramangala (International Tax), IT(IT)A No. Amar Jyoti Layout, Circle 1 (1), 2015-16 2818/Bang/2017 Bangalore – 71. Bangalore. PAN: AABCB5847L The Deputy Commissioner of IT(IT)A No. Income Tax, 2013-14 M/s. Vodafone Idea Ltd., 1367/Bang/2015 (International Tax…

Vodafone South Limited, Bangalore vs. Dydit, Bangalore

In the result, all three Stay petitions are dismissed, five appeals of the assessee for A

ITA 1161/BANG/2015[2014-15]Status: DisposedITAT Bangalore28 Nov 2019AY 2014-15

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 201

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment ITA Appeal No. Appellant Respondent Years IT(IT)A Nos. 1160 M/s. Vodafone Idea Ltd., 2013-14 & The Deputy Director of & 1161/Bang/2015 Maruthi Infotech Centre, 2014-15 Income Tax, 11/1, 12/1, Koramangala (International Tax), IT(IT)A No. Amar Jyoti Layout, Circle 1 (1), 2015-16 2818/Bang/2017 Bangalore – 71. Bangalore. PAN: AABCB5847L The Deputy Commissioner of IT(IT)A No. Income Tax, 2013-14 M/s. Vodafone Idea Ltd., 1367/Bang/2015 (International Tax…

Vodafone South Limited, Bangalore vs. Dydit, Bangalore

In the result, all three Stay petitions are dismissed, five appeals of the assessee for A

ITA 1160/BANG/2015[2013-14]Status: DisposedITAT Bangalore28 Nov 2019AY 2013-14

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

Section 201

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Assessment ITA Appeal No. Appellant Respondent Years IT(IT)A Nos. 1160 M/s. Vodafone Idea Ltd., 2013-14 & The Deputy Director of & 1161/Bang/2015 Maruthi Infotech Centre, 2014-15 Income Tax, 11/1, 12/1, Koramangala (International Tax), IT(IT)A No. Amar Jyoti Layout, Circle 1 (1), 2015-16 2818/Bang/2017 Bangalore – 71. Bangalore. PAN: AABCB5847L The Deputy Commissioner of IT(IT)A No. Income Tax, 2013-14 M/s. Vodafone Idea Ltd., 1367/Bang/2015 (International Tax…

Raskspace Us Inc, Mumbai vs. DCIT (It) 4(1)(1), Mumbai

In the result, these appeals of the assessee are allowed as indicated above

ITA 3507/MUM/2017[2014-15]Status: DisposedITAT Mumbai29 May 2019AY 2014-15

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: S/Shri PJ PardiwalaFor Respondent: S/Shri Kumar Sanjay, CIT DR &
Section 143(3)Section 144C(5)Section 9Section 9(1)(vi)

…finition of Royalty is being enlarged. It is also not a case where items not taxable under DTAA are being now taxed under the Act. Definition of Royalty in DTAA and Act are Pari material as recently held by Madras High court also in case of Poompuhar Shipping 360 ITR 257 and Verizon Communication Singapore Pte 361 ITR 474 (Mad). Art 3(2) of DTAA stipulates that any term not defined shall have meaning as assigned under Act. As per section 90(2), provisions of DTAA shall apply if they are more beneficial in case there is conflict between DTAA and Act. There can be no dispute that for tax liability of any item benef…

Rackspace, Us Inc., Mumbai vs. DCIT (It) 4(1)(1), Mumbai

In the result, these appeals of the assessee are allowed as indicated above

ITA 1075/MUM/2017[2013-14]Status: DisposedITAT Mumbai29 May 2019AY 2013-14

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: S/Shri PJ PardiwalaFor Respondent: S/Shri Kumar Sanjay, CIT DR &
Section 143(3)Section 144C(5)Section 9Section 9(1)(vi)

…finition of Royalty is being enlarged. It is also not a case where items not taxable under DTAA are being now taxed under the Act. Definition of Royalty in DTAA and Act are Pari material as recently held by Madras High court also in case of Poompuhar Shipping 360 ITR 257 and Verizon Communication Singapore Pte 361 ITR 474 (Mad). Art 3(2) of DTAA stipulates that any term not defined shall have meaning as assigned under Act. As per section 90(2), provisions of DTAA shall apply if they are more beneficial in case there is conflict between DTAA and Act. There can be no dispute that for tax liability of any item benef…

Rackspace, Us Inc, Mumbai vs. DCIT (It) 4(1)(1), Mumbai

In the result, these appeals of the assessee are allowed as indicated above

ITA 1634/MUM/2016[2012-13]Status: DisposedITAT Mumbai29 May 2019AY 2012-13

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: S/Shri PJ PardiwalaFor Respondent: S/Shri Kumar Sanjay, CIT DR &
Section 143(3)Section 144C(5)Section 9Section 9(1)(vi)

…finition of Royalty is being enlarged. It is also not a case where items not taxable under DTAA are being now taxed under the Act. Definition of Royalty in DTAA and Act are Pari material as recently held by Madras High court also in case of Poompuhar Shipping 360 ITR 257 and Verizon Communication Singapore Pte 361 ITR 474 (Mad). Art 3(2) of DTAA stipulates that any term not defined shall have meaning as assigned under Act. As per section 90(2), provisions of DTAA shall apply if they are more beneficial in case there is conflict between DTAA and Act. There can be no dispute that for tax liability of any item benef…

Poompuhar Shipping Corporation Ltd., Chennai vs. DCIT Corporate Circle 5(2), Chennai

Accordingly, related grounds of the assessee for assessment years 2010-2011 and 2013-2014 are dismissed

ITA 335/CHNY/2018[2014-15]Status: DisposedITAT Chennai10 Apr 2018AY 2014-15

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. Nos.333, 334 & 335/Chny/2018 & S.P.Nos.61, 62, 63/Chny/2018. "नधा"रण वष" /Assessment Years : 2010-11, 2013-14 & 2014-15. M/S. Poompuhar Shipping Vs. The Deputy Commissioner Of Corporation Limited, Income Tax, 692, Annasalai, Corporate Circle 5(2) Nandanam, Chennai 600 034. Chennai 600 035. [Pan Aaacp 4383J] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. R. Vijayaraghavan, AdvFor Respondent: Mrs. Ruby George, IRS, CIT
Section 40Section 43B

…assessee, ld. Commissioner of Income Tax (Appeals) confirmed the disallowance made by the ld. Assessing Officer u/s.40(a)(i) of the Act, relying on a judgment of Hon’ble Jurisdictional High Court in the case of Poompuhar Shipping Corporation Ltd vs. ITO, 360 ITR 257. However, as per the ld. Authorised Representative, this judgment relied on by ld. Commissioner of Income Tax (Appeals) was on payments made for chartering ships to Non Resident Shipping Companies and not on dry dock charges. As per the ld. Authorised Representative, question here was not on payments for chartering ships but payment for dry do…

Poompuhar Shipping Corporation Ltd., Chennai vs. DCIT Corporate Circle 5(2), Chennai

Accordingly, related grounds of the assessee for assessment years 2010-2011 and 2013-2014 are dismissed

ITA 334/CHNY/2018[2013-14]Status: DisposedITAT Chennai10 Apr 2018AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. Nos.333, 334 & 335/Chny/2018 & S.P.Nos.61, 62, 63/Chny/2018. "नधा"रण वष" /Assessment Years : 2010-11, 2013-14 & 2014-15. M/S. Poompuhar Shipping Vs. The Deputy Commissioner Of Corporation Limited, Income Tax, 692, Annasalai, Corporate Circle 5(2) Nandanam, Chennai 600 034. Chennai 600 035. [Pan Aaacp 4383J] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. R. Vijayaraghavan, AdvFor Respondent: Mrs. Ruby George, IRS, CIT
Section 40Section 43B

…assessee, ld. Commissioner of Income Tax (Appeals) confirmed the disallowance made by the ld. Assessing Officer u/s.40(a)(i) of the Act, relying on a judgment of Hon’ble Jurisdictional High Court in the case of Poompuhar Shipping Corporation Ltd vs. ITO, 360 ITR 257. However, as per the ld. Authorised Representative, this judgment relied on by ld. Commissioner of Income Tax (Appeals) was on payments made for chartering ships to Non Resident Shipping Companies and not on dry dock charges. As per the ld. Authorised Representative, question here was not on payments for chartering ships but payment for dry do…

Poompuhar Shipping Corporation Ltd., Chennai vs. DCIT Corporate Circle 5(2), Chennai

Accordingly, related grounds of the assessee for assessment years 2010-2011 and 2013-2014 are dismissed

ITA 333/CHNY/2018[2010-11]Status: DisposedITAT Chennai10 Apr 2018AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. Nos.333, 334 & 335/Chny/2018 & S.P.Nos.61, 62, 63/Chny/2018. "नधा"रण वष" /Assessment Years : 2010-11, 2013-14 & 2014-15. M/S. Poompuhar Shipping Vs. The Deputy Commissioner Of Corporation Limited, Income Tax, 692, Annasalai, Corporate Circle 5(2) Nandanam, Chennai 600 034. Chennai 600 035. [Pan Aaacp 4383J] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. R. Vijayaraghavan, AdvFor Respondent: Mrs. Ruby George, IRS, CIT
Section 40Section 43B

…assessee, ld. Commissioner of Income Tax (Appeals) confirmed the disallowance made by the ld. Assessing Officer u/s.40(a)(i) of the Act, relying on a judgment of Hon’ble Jurisdictional High Court in the case of Poompuhar Shipping Corporation Ltd vs. ITO, 360 ITR 257. However, as per the ld. Authorised Representative, this judgment relied on by ld. Commissioner of Income Tax (Appeals) was on payments made for chartering ships to Non Resident Shipping Companies and not on dry dock charges. As per the ld. Authorised Representative, question here was not on payments for chartering ships but payment for dry do…

DDIT (It)-2(1), Mumbai vs. M/S. Reliance Infocomm Ltd., Mumbai

ITA 837/MUM/2007[]Status: DisposedITAT Mumbai02 Feb 2018

Bench: S/Sh. Rajendra & Ravish Sood

For Appellant: S/Shri J.D. Mistry/Deepak JainFor Respondent: S/Shri Parag Vyas- DR
Section 195Section 195(2)Section 254(1)Section 40Section 9

…definition of the term Invention given under the Oxford Dictionary and Black Laws Dictionary to hold that Software is an invention.Reffering to the term 'Equipment' from Wikipedia website and relying on the decision of the Poompuhar Shipping Corporation Ltd.(360 ITR 257),he submitted that payment made by the assessee for purchase of software fell under the head ‘equipment-royalty’.He also relied on the definition of the royalty as per DTAA and stated that definition of the royalty was same in all DTAA.s,that some of the DTAA.s did not include equipment-royalty under the definition of royalty,that after amendment…

The DDIT (It)-2(1), Mumbai vs. M/S. Reliance Communicatioins Ltd. ( Formerly Known As M/S. Reliance Infocomm Ltd), Navi Mumbai

ITA 4877/MUM/2007[]Status: DisposedITAT Mumbai02 Feb 2018

Bench: S/Sh. Rajendra & Ravish Sood

For Appellant: S/Shri J.D. Mistry/Deepak JainFor Respondent: S/Shri Parag Vyas- DR
Section 195Section 195(2)Section 254(1)Section 40Section 9

…definition of the term Invention given under the Oxford Dictionary and Black Laws Dictionary to hold that Software is an invention.Reffering to the term 'Equipment' from Wikipedia website and relying on the decision of the Poompuhar Shipping Corporation Ltd.(360 ITR 257),he submitted that payment made by the assessee for purchase of software fell under the head ‘equipment-royalty’.He also relied on the definition of the royalty as per DTAA and stated that definition of the royalty was same in all DTAA.s,that some of the DTAA.s did not include equipment-royalty under the definition of royalty,that after amendment…

DDIT, Dehradun vs. M/S. Tidewater Marine Internatioanl Inc., New Delhi

In the result, appeal of the Revenue is dismissed

ITA 6166/DEL/2014[2011-12]Status: DisposedITAT Delhi31 Oct 2017AY 2011-12

Bench: Sh. Bhavnesh Saini & Sh. O.P. Kantassessment Year: 2011-12 Vs. M/S. Ddit, International Taxation, Tidewater Marine International Inc., 17Th Floor, Aayakar Bhawan, 13A-Subhash Road, Dehradun Jawahar Vyapar Bhawan, Tolstoys Marg, New Delhi Pan : Aaact7573Q (Appellant) (Respondent) Appellant By Sh. Gaurav Dudeja, Sr.Dr Respondent By Sh. Amit Arora, Ca Date Of Hearing 31.10.2017 Date Of Pronouncement 31.10.2017 Order Per O.P. Kant, A.M.:

Section 192Section 2Section 234BSection 44BSection 44DSection 9

…e. 23. Coordinate bench of ITAT in SBS Marine Limited v ADIT [ITA 07/Del/2012 dated 13.2.2015] after considering the decisions of Hon’ble supreme court in case of UOI V Gosalia Shipping Pvt. Limited [113 ITR 307] & Poomphur Shipping corporation Limited V ITO [360 ITR 257] , both of which are heavily relied by the revenue has decided this issue. Further this decision of Coordinate bench has also been upheld by Hon’ble Uttarakhand High court vide order dated 6.8.2015 in ITA No 36/2015 applying judgment of Honourable Supreme court in case of Oil And natural Gas Coorp. Limited V CIT [376 ITR 306 (SC)]. There is no co…

ADIT, Dehradun vs. M/S. Tidewater Marine International Inc., Dehradun

ITA 5927/DEL/2013[2010-11]Status: DisposedITAT Delhi29 Jun 2016AY 2010-11

Bench: Shri N.K. Saini & Shri Kuldip Singh

For Appellant: Shri Amit Arora, CAFor Respondent: Ms. Anupama Anand, CIT DR
Section 44BSection 44DSection 5Section 9Section 9(1)(vi)Section 9(1)(vii)

…3. Coordinate bench of ITAT in SBS Marine Limited v ADIT [ITA 107/Del/2012 dated 13.2.2015] after considering the decisions of honourable supreme court in case of UOI V Gosalia Shipping Pvt. Limited [113 ITR 307] & Poomphur Shipping corporation Limited V ITO [360 ITR 257], both of which are heavily relied by the revenue has decided this issue. Further this decision of Coordinate bench has also been upheld by honourable Uttarakhand High court vide order dated 6.8.2015 in ITA No 36/2015 applying judgement of Honourable Supreme court in case of Oil And natural Gas Coorp. Limited V CIT [376 ITR 306 ( SC)]. There is n…

Tidewater Marine International Inc, New Delhi vs. ADIT, Dehradun

ITA 5864/DEL/2013[2010-11]Status: DisposedITAT Delhi29 Jun 2016AY 2010-11

Bench: Shri N.K. Saini & Shri Kuldip Singh

For Appellant: Shri Amit Arora, CAFor Respondent: Ms. Anupama Anand, CIT DR
Section 44BSection 44DSection 5Section 9Section 9(1)(vi)Section 9(1)(vii)

…3. Coordinate bench of ITAT in SBS Marine Limited v ADIT [ITA 107/Del/2012 dated 13.2.2015] after considering the decisions of honourable supreme court in case of UOI V Gosalia Shipping Pvt. Limited [113 ITR 307] & Poomphur Shipping corporation Limited V ITO [360 ITR 257], both of which are heavily relied by the revenue has decided this issue. Further this decision of Coordinate bench has also been upheld by honourable Uttarakhand High court vide order dated 6.8.2015 in ITA No 36/2015 applying judgement of Honourable Supreme court in case of Oil And natural Gas Coorp. Limited V CIT [376 ITR 306 ( SC)]. There is n…

ADIT, Dehradun vs. M/S. Fugro Geoteam As, Dehradun

In the result the appeal of the Revenue is dismissed and the cross

ITA 5928/DEL/2013[2010-11]Status: DisposedITAT Delhi20 Nov 2015AY 2010-11

Bench: Shri A.T. Varkey & Shri Prashant Maharishi

For Appellant: S/Shri Amit Arora & Suraj Nangia, CAsFor Respondent: Shri Anuj Arora, CIT DR
Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 3

…has heavily relied on the judgment of the Hon'ble Supreme Court of India in Union of India vs. Gosalia Shipping Pvt. Ltd., 113 ITR 307 = 2002- TI/-40-SC-L8-INTL and the judgment of the Hon'ble Madras High Court in Poompuhar Shipping Corporation Ltd. vs. ITO, 360 ITR 257 = 2013-TII-37-HC-MAD-INTL in contending that the contracts entered into by the assessee with its customers are in the nature of a contract for hire of equipment. In Gosalia's case, the Hon'ble Supreme Court had to consider whether a hire charge paid under time charter was a payment on account of carriage of goods. In this context, the Hon'ble Sup…