NAN LIAN SHIP MANAGEMENT LLC,MUMBAI vs. JCIT (OSD)(INT TAX)-3(3)(1), MUMBAI

In the result, the appeal filed by the assessee stands allowed

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Blenan Lian Ship Management Llc V. Jcit (Osd) (Intl. Tax) – 3(3)(1) 303, The Atrium Center Room No. 1630, 16Th Floor Khalid Bin Al Walled Road Air India Building Nariman Point, Mumbai – 400 021 Bur Dubai Po Box No. 82289 Dubai, Uae Nan Lian Ship Management Llc C/O. Nishit M. Gandhi Chambers 2 & 3, Ground Floor Cosmos Trade Place, Khatau Building Alkesh Dinesh Mody Marg Opp. Bombay Stock Exchange Fort, Mumbai - 400001 Pan: Aagcn0478E (Appellant) (Respondent)

section 44B. 11. What is to be seen is, whether the assessee has given use or right to use the ship to PSCL and the payment received for time charter services falls within the ambit and definition of Clause (iva) (supra) or not. The relevant clauses of Time Charter agreement as noted and analysed by the AO reads as under

MMA OFFSHORE ASIA VESSEL OPERATIONS PTE LTD. ,SINGAPORE vs. CIT (INTERNATIONAL TAXATION)-3, MUMBAI

In the result, appeals of the assessee are allowed

44B of IT Act. In case you fail to do so, please treat this as\nshow cause for denying the deemed income provision under\nAs per said agreement, the period of charter of vessel is 60 days. Submit the date of\nmobilisation of vessel and total period under which vessel was chartered to charterer\nunder said agreement.”\n10.3