Shipping Corporation of India v. Addl. CIT

164 Taxmann.com 391Income Tax Appellate Tribunal2024#8229 most cited

What is Shipping Corporation of India v. Addl. CIT authority for?

Interest expenses should be allowed as a deduction under the head 'income from other sources' if interest income is taxed under the same head. This principle applies even when the interest pertains to a tonnage scheme.

13

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2025 to 2025.

Also referred to as

Shipping Corporation of India vs. Addl. CIT · tonnage scheme · interest income · interest expenses · income from other sources · deduction · ITAT · 2024

Sections most often in play

Section 115VDSection 115VISection 143(3)Section 153ASection 2(22)(d)Section 40A(3)Section 115VPSection 33AC

Issues it is cited on

section 33acsection 115vscheme of arrangementmanagement feesddtdividend distribution taxtax benefitsection 2(22)section 33deemed dividendsection 80ibput to use

Judgments citing Shipping Corporation of India v. Addl. CIT

The Dy. Commissioner of Income Tax, Central Circle-5(3), Mumbai vs. M/S Samson Maritime Ltd, Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2344/MUM/2023[2017-18]Status: DisposedITAT Mumbai17 Mar 2025AY 2017-18

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

The Dy. Commissioner of Income Tax, Central Circle-5(3), Mumbai vs. M/S Samson Maritime Ltd, Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2343/MUM/2023[2016-2017]Status: DisposedITAT Mumbai17 Mar 2025AY 2016-2017

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

Dy Commissioner of Income Tax (Appeal)-53, Mumbai vs. Samson Maritime Limited, Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2330/MUM/2023[2017-2018]Status: DisposedITAT Mumbai17 Mar 2025AY 2017-2018

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

Dy Commissioner of Income Tax (Appeal)-53, Mumbai vs. Samson Maritime Limited, Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2329/MUM/2023[2015-16]Status: DisposedITAT Mumbai17 Mar 2025AY 2015-16

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

Dy Commissioner of Income Tax (Appeal)-53, Mumbai vs. Samson Maritime Limited, Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2328/MUM/2023[2014-2015]Status: DisposedITAT Mumbai17 Mar 2025AY 2014-2015

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

Dy Commissioner of Income Tax (Appeal)-53, Mumbai vs. Samson Maritime Limited, Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2327/MUM/2023[2013-2014]Status: DisposedITAT Mumbai17 Mar 2025AY 2013-2014

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

DCIT-CC5(3), Mumbai vs. Samson Maritime Limited, Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2326/MUM/2023[2012-2013]Status: DisposedITAT Mumbai17 Mar 2025AY 2012-2013

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

Samson Maritime Limited, Mumbai vs. Dy. Commissioner of Income Tax Central Circle 5(3), Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2263/MUM/2023[2017-2018]Status: DisposedITAT Mumbai17 Mar 2025AY 2017-2018

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

Samson Maritime Limited, Mumbai vs. Dy Commissioner of Income Tax (Appeal)-53, Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2262/MUM/2023[2016-2017]Status: DisposedITAT Mumbai17 Mar 2025AY 2016-2017

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

Samson Maritime Limited, Mumbai vs. DCIT, CC-5(3), Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2261/MUM/2023[2015-16]Status: DisposedITAT Mumbai17 Mar 2025AY 2015-16

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

Samson Maritime Limited, Mumbai City vs. DCIT, CC-5(3), Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2260/MUM/2023[2014-15]Status: DisposedITAT Mumbai17 Mar 2025AY 2014-15

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

Samson Maritime Limited, Mumbai vs. DCIT, CC-5(3), Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2259/MUM/2023[2013-14]Status: DisposedITAT Mumbai17 Mar 2025AY 2013-14

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

Samson Maritime Limited, Mumbai vs. DCIT, CC-5(3), Mumbai

In the result, appeals of the Revenue are dismissed and appeals of the assessee are partly allowed

ITA 2258/MUM/2023[2012-13]Status: DisposedITAT Mumbai17 Mar 2025AY 2012-13

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 153A

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘G‘ BENCH MUMBAI BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.2258/Mum/2023 to 2263/Mum/2023 (Assessment Year :2012-13 to 2017-18) Samson Maritime Limited Vs. Dy. Commissioner of 201/202, Raheja Xion, Income Tax, Central Near DCP Zone-III, Circle 5(3) Dr. Baba Ambedkar Road, Mumbai- 400 021 Byculla East, Mumbai- 400 027 PAN/GIR No.AAACS9177M (Appellant) .. (Respondent) ITA No.2326/Mum/2023 to 2329/Mum/2023 (Assessment Year :2012-13 to 2015-16) ITA No.2330/Mum/2023 (Assessment Year: 2017-18) & Dy. Commissioner of Vs. Samson Maritime…

Shipping Corporation of India v. Addl. CIT (164 Taxmann.com 391) — Cited in 13 Judgments | BharatTax