No Liability arises for Payment of Income Tax by the Non-Resident receiving payment for Time Charter: ITAT [Read Order]

NRI - Liability - Payment of Income Tax - Non-Resident receiving payment - Time Charter - ITAT - Taxscan

The Rajkot Bench of Income Tax Appellate Tribunal (ITAT) has ruled that no liability arises for payment of  Income Tax by the non- resident receiving payment for time charter. The assessee, M/s. Terapanth Foods Limited is engaged in the business of manufacturing refined free flow iodized salt and in trading of salt and iron ore….

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