M/s. IAL India Ltd. Versus Assistant Commissioner of Income Tax - Income Tax - KERALA HIGH COURT - HC - Shipping income Held that - The assessee claimed to be acting only as an agent of UK Company and hence the shipping income generated by it in India belongs to the UK Company - In the assessment of another company of the Group named IAL Shipping Agencies (Mumbai) Ltd., the Department had concluded that there is no Agent-Principal relationship between IAL. Shipping Agencies(Mumbai) Ltd. and IA................................... Income Tax - Case Laws
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