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

FEEDERTECH PTE LYD,NERUL, NAVI MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, NARIMAN POINT

Accordingly.\n9.\nIn result, the appeal of assessee is partly allowed

44B @ 7.5% and claimed the same as exempt in the return. The ld.\nAR submitted that it is a well-settled position that in the case of eligible assessee\nas per section 144C(15) of the Act, the final assessment order passed by the AO\nwithout passing the draft assessment order is held to be null and void