DCIT CIR 5(3)(2), MUMBAI vs. THE GREAT EASTERN SHIPPING CO. LTD, MUMBAI

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI S.RIFAUR RAHMAN (Accountant Member)

Section 115V-I of the Act based on the tonnage of the ships operated by the assessee company. Accordingly, the gross receipts of the tonnage tax business (Rs.14,03,07,80,962/-) and the expenses pertaining to the tonnage tax business (Rs.12,22,54,24,636/-) have been excluded while computing the business income of the assessee company

ACIT-CIRCLE-5(3)(2), MUMBAI vs. M/S GREAT EASTERN SHIPPING CO. LTD., MUMBAI

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

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI S.RIFAUR RAHMAN (Accountant Member)

Section 115V-I of the Act based on the tonnage of the ships operated by the assessee company. Accordingly, the gross receipts of the tonnage tax business (Rs.14,03,07,80,962/-) and the expenses pertaining to the tonnage tax business (Rs.12,22,54,24,636/-) have been excluded while computing the business income of the assessee company

THE GREAT EASTERN SHIPPING CO. LTD,MUMBAI vs. ASST CIT CIRCLE 5(3)(2), MUMBAI

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

115V-I of the Act and the tax is paid of\nincome computed in accordance with the provisions of Section\n115V-I of the Act based on the tonnage of the ships operated by\nthe assessee company. Accordingly, the gross receipts of the\ntonnage tax business (Rs.14,03,07,80,962/-) and the expenses\npertaining to the tonnage tax business

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

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

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

115V provides definition describing „qualifying ship‟ and sea going ship in the following manner:- (a)…. (b)…. (c)…. (d)….. (e)…. (f)….. Samson Maritime Ltd., (g)…. (h) "qualifying ship" means a ship referred to in section 115-VD. (i) "seagoing ship" means a ship if it is certified as such by the competent authority of any country; (k) "tonnage tax activities" means

THE GREAT EASTERN SHIPPING COMPANY LTD,MUMBAI vs. ASST CIT CIR 5(3)(2), MUMBAI

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

115V-I of the Act and the tax is paid of\nincome computed in accordance with the provisions of Section\n115V-I of the Act based on the tonnage of the ships operated by\nthe assessee company. Accordingly, the gross receipts of the\ntonnage tax business (Rs.14,03,07,80,962/-) and the expenses\npertaining to the tonnage tax business

DEPUTY CIT-5(1)(1), MUMBAI, MUMBAI vs. M/S ESSAR SHIPPING LIMITED , MUMBAI

In the result, the appeal filed by the revenue stands dismissed

Bench: Shri Amit Shukla, Jm & Shri M Balaganesh, Am आयकरअपीलसं./ I.T.A. No. 821/Mum/2022 (निर्धारणवर्ा / Assessment Year: 2015-16) M/S Essar Shipping Dy. Cit-Circle – 5(3)(1), Limited R. No. 568, Aayakar बिधम/ Essar House, 11, K K Bhavan, M. K. Road, Vs. Marg, Mahalaxmi, Mumbai-400 020 Mumbai-400 034 स्थायीलेखासं./जीआइआरसं./ Pan No. Aacce3707D (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri Prakash R. Mane, Ld. Dr प्रत्यथीकीओरसे/Respondent By : Shri Manoj Patwari/ Shri Rishav Patwari, Ld. Ars सुनवाईकीतारीख/ : 18.08.2022 Date Of Hearing घोषणाकीतारीख / : 14.11.2022 Date Of Pronouncement आदेश / O R D E R Per Amit Shukla: The Aforesaid Appeal Has Been Filed By The Revenue Against Impugned Order Dated 28.02.2022, Passed By Ld. Cit (Appeals)-56, Mumbai For The Quantum Of Assessment Passed U/S 143(3) R.W.S.

115V under Chapter XII-G of the Act and the Arm's Length Pricing adjustment made as per Section 92 to Section 92F under Chapter X of the Act has no application in this case. On this issue; 1.1 "Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) is justified in not appreciating