M/s GATI LTD Versus ADDL COMMISSIONER OF INCOME TAX - Income Tax - ANDHRA PRADESH HIGH COURT - HC - Foreign exchange Fluctuation Held that - Following Dredging Corporation of India Ltd 2011 (7) TMI 584 - ITAT VISAKHAPATNAM - The gain on account of foreign exchange fluctuation, is related to the activity of operating qualifying ships - It has to be taxed under the Tonnage Tax Scheme as provided under Chapter XIIG of the Act Decided in favour of assessee. Gratuity Held that - The amount pa................................... Income Tax - Case Laws
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