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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