The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has deleted the disallowance of ocean freight charges paid to Korean-associated enterprises (AE)since the amount can be taxable only in contracting states. Doosan Power Systems India, the assessee is arising out of the assessment order framed by the DCIT, Corporate Circle 1(1), Chennai u/s.143(3) r.w.s….
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