DREDGING CORPORATION OF INDIA LTD,,VISAKHAPATNAM vs. DCIT, CIRCLE -3(1),, VISAKHAPATNAM
In the result, the appeals of the assessee as well as the revenue are dismissed
ITA 437/VIZ/2017[2012-2013]Status: DisposedITAT Visakhapatnam05 Oct 2018AY 2012-2013
Bench: Shri V. Durga Rao& Shri D.S. Sunder Singhआयकर अपील सं./I.T.A.No.437/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) M/S Dredging Corporation Vs. Dcit Of India Ltd. Circle-3(1) Dredge House, Port Area Visakhapatnam Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) आयकर अपील सं./I.T.A.No.464/Viz/2017 (धििाारण िर्ा/ Assessment Year: 2012-2013) Acit Vs. M/S Dredging Corporation Circle-3(1) Of India Ltd. Visakhapatnam Dredge House, Port Area Visakhapatnam [Pan : Aaacd6021B] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) निर्धाऩिती की ओि से/ Assessee By : Shri G.V.N.Hari, Ar िधजस्व की ओि से/ Revenue By : Shri Deba Kumar Sonowal, Dr सुिवधई की तधिीख / Date Of Hearing : 26.09.2018 05.10.2018 घोषणध की तधिीख/Date Of Pronouncement :
For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri Deba Kumar Sonowal, DR
Section 115VSection 5
115V-I shall be the following, namely :—
(i) maritime consultancy charges;
(ii) income from loading or unloading of cargo;
(iii) ship management fees or remuneration received for managed vessels; and (iv) maritime education or recruitment fees.
4.4. The liquidated damages collected from various contractors do not cover any of the receipts in section 115VI or within the scope of Rule
