SHAAN MARINE SERVICES PRIVATE LIMITED Vs. DY. DIT
LAWS(IT)-2014-5-130
INCOME TAX APPELLATE TRIBUNAL
Decided on May 27,2014

Shaan Marine Services Private Limited Appellant
VERSUS
Dy. Dit Respondents

JUDGEMENT

Shailendra Kumar Yadav, Member (J) - (1.) THIS appeal has been filed by the assessee against the order of Commissioner of Income Tax (Appeal) -IT/TP [in short CIT(A)] Pune, dated 06.09.2013 for A.Y. 2012 -13 on the following grounds. 1. The Ld. Commissioner of Income tax Appeals has erred in law and in facts in confirming the income of Rs. 42,61,950/ - assessed by the AO u/s. 172(4) of the Act in the hands of the appellant as an agent.
(2.) THE Ld. Commissioner of Income tax Appeals has erred in confirming the contention of the AO that the Income has accrued in India in the hands of the appellant as an agent although the same does not accrue or arise in India in view of applicable law and facts of the case. The learned CIT(A) failed to appreciate that the appellant was assessable only as an agent of Glendive Enterprises and not of any other party and thus, the above income of Rs. 42,61,950/ - was not assessable in the hands of the appellant at all.
(3.) THE Ld. Commissioner of Income tax Appeals has erred in law and in facts in not following the terms of the tax treaty entered between India and other country (Cyprus).;


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