{"id":15999,"date":"2021-03-24T12:36:45","date_gmt":"2021-03-24T07:06:45","guid":{"rendered":"https:\/\/itatonline.org\/digest\/sesa-goa-ltd-v-cit-no-1-2021430-itr-109-bom-hc-2\/"},"modified":"2021-03-24T12:36:45","modified_gmt":"2021-03-24T07:06:45","slug":"sesa-goa-ltd-v-cit-no-1-2021430-itr-109-bom-hc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/sesa-goa-ltd-v-cit-no-1-2021430-itr-109-bom-hc-2\/","title":{"rendered":"Sesa Goa Ltd. v. CIT (NO. 1) (2021)430 ITR 109 (Bom.)(HC)"},"content":{"rendered":"<p>Court held that\u00a0 the receipts by way of shipping agency fees and the hire charges of machinery and installation had to be reduced in terms of\u00a0 Explanation (baa)\u00a0 to section 80HHC of the Income-tax Act, 1961. However, such reduction had to be on net basis and not on gross basis. That the receipts toward hire of ships\/transhippers and hire charges of barges had to be reduced in terms of Explanation (baa) to section 80HHC. \u00a0That proceeds of services and repairs of vessels by shipyards were not covered under Explanation (baa) to section 80HHC and, therefore, there was no question of reduction of such receipts from out of the profits. (AY. 1997-98)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 80HHC : Export business-Shipping agency fees, hire charges of  machinery and installation must be reduced on  net Basis-Proceeds of  services and repairs by  Shipyards not to be  reduced. [S.80HHC   Explanation (baa)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-15999","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4a3","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=15999"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15999\/revisions"}],"predecessor-version":[{"id":16000,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/15999\/revisions\/16000"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=15999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=15999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=15999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}