Taxability of receipts on hire of vessel on time charter basis of Rs 13,63,71,972/-
2. erred in holding that charges received ... disposal of the
charterer; and (iii) the charterer had the right to use the ship,
select the time and decide the route
Time Charter Party was due to expire on 6th April,
2021. The Charter Party also gave the option to the Charterer, i.e.
Respondent ... Charter Party. It is not in dispute that Respondent
No.1 extended the period of the Charter Party ten times (as
contemplated under clause
maintained the books of accounts and get their
accounts audited by a chartered accountant. But after change of
management and involvement of new committee, books ... truth all disputed entries were bearer
cheques, but at that time books of accounts have been finalized and
17 ITA 688/JP/2019
ship/liners
under the Bare Boat Charter Cum Demise (BBCD), Voyage Charter and
Time Charter to M/s.Dolphin Maritime Inc., Cyprus ... submitted that all the details were
furnished by the petitioner at the time of assessment and therefore the
impugned order was liable to be quashed
ship/liners
under the Bare Boat Charter Cum Demise (BBCD), Voyage Charter and
Time Charter to M/s.Dolphin Maritime Inc., Cyprus ... submitted that all the details were
furnished by the petitioner at the time of assessment and therefore the
impugned order was liable to be quashed
refer to the charter-party under which the defendant obtained time
charter of the vessel. According to the plaintiff, even such charter
party does ... plaintiff would be entitled to receive the goods since the plaintiff’s time
to receive repayment would not mature before the expiry of 60 days
DREDGER KAMAL XXXVI".
EXHIBIT P2 TRUE COPY OF THE THE TIME CHARTER
AGREEMENT DATED 22.7.2009 IN RESPECT OF
"DREDGER KAMAL XXXV".
EXHIBIT
respondents entered into an
agreement on 21st January, 2021 for time-charter of two vessels for plying
between the banks of a river in Jharkhand ... made by either of
the parties, being the owners and the charterers (the petitioner and the
respondents respectively before this Court) to terminate the agreement
coastal freight water transport and operates its fleet of owned and
time chartered handy size breakbulk dry cargo vessels on its linear
cargo trades
engaged in the business of services like ship chartering, freight forwarding,
sea cargo services, shipping line agents. The uncontroverted stand of the assessee, as noted ... fact that the assessee had taken vessels on the time
charter, for transportation of good by ship in the international traffic, as also the assessee
