ASSISTANT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) vs A.P. MOLLER

Whether the reassessment proceedings initiated by the Assessing Officer under section 147 of the Income Tax Act, 1961, after four years, were valid when the assessee had disclosed all material facts in the original return --- Held, No. | Whether the income from shipping business (feeder freight) was taxable in the hands of the assessee firm (A.P. Moller) or in the hands of the two Danish companies (Svendborg and 1912) it represented --- Held, in the hands of the companies, following the DTAA benefit. | Whether the management fees received by the assessee firm from the two Danish companies outside India were taxable in India as Fees for Technical Services (FTS) --- Held, No, as per Article 13(6) of the India-Denmark DTAA, since the payment was between non-residents and not borne by a Permanent Establishment (PE) in India.