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ITAT: Hire Charges Received by Owner Under ‘Time Charter Agreement’ Not Taxable As Royalty - (23 Jan 2023)

DIRECT TAXATION

Income Tax Appellate Tribunal, Mumbai has ruled that hire charges received by the owner of a ship for chartering its vessel under a ‘Time Charter Agreement’, is not taxable as ‘royalty’ under Section 9(1) (vi) of the Income Tax Act, 1961.

Tags : INCOME TAX APPELLATE TRIBUNAL   TIME CHARTER AGREEMENT   TAXABLE  

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