1 txas31-32-07dt.03-02-20 Santosh IN HIGH COURT OF BOMBAY AT GOA TAX APPEALS NO. 31 OF 2007 & 32 OF 2007 Sesa Goa Ltd. Having its office at Sesa Ghor Patto, Panaji, Goa. Appellant. Versus. Commissioner of Income Tax, having his office at Aayakar Bhavan, Patto Plaza, Panaji, Goa. Respondent. Mr. R. G. Ramani, with Mr. P. Kakodkar, Advocates for Appellant. Ms. S. Linhares, Standing Counsel for Respondent. Coram : M.S. Sonak & Smt. M.S. Jawalkar. Date : 3 rd February, 2020. ORAL JUDGMENT : (Per M.S. SONAK, J.) learned Counsel for parties agree that both these Appeals can be disposed of by common order, since, issues involved in both these Appeals are identical, except that Tax Appeal No.31/2009 relates to Assessment Year 1999-2000 and Tax Appeal no.32/2007 relates to Assessment Year 1998-99. 2 txas31-32-07dt.03-02-20 2. Both these Appeals came to be admitted vide order dated 25th June, 2007, on following substantial questions of law : A) Whether on facts and in circumstances of case, receipts by way of "Shipping Agency fees" and "hire charges of machinery and installations" have to be reduced in terms of said clause (baa); and if said receipts have to be so reduced, whether it is gross receipts that have to be reduced or it is net receipts included in profits, that have to be reduced ? B) Whether on facts and in circumstances of case, receipts under head "extraction charges" could be considered as part of "total turnover" as defined in said clause (ba), for purpose of computation of deduction under section 80 HHC of Act ? C) Whether on facts and in circumstances of case, interest received from subsidiary companies on loans lent to them to meet their working capital requirements, and claimed by Appellant as forming part of income from "Profits and gains of business" could be considered as assessable as "Income from other sources"? D) Whether on facts and in circumstances of case, receipts in Appellant's accounts under heads (i) proceeds of services; (ii) hire of Ship/transhippers; (iii) hire of barges; and (iv) repairs of vessels by Shipyards, which receipts have substantial costs, and arise from main business activity of Appellant, would have to be reduced in terms of said clause (baa)? E) Whether on facts and in circumstances of 3 txas31-32-07dt.03-02-20 case, demurrage payable to non-resident Ship owners/charterers of vessels, on which tax was not deductible as found by Tribunal,could be considered as disallowable under section 40(a)(i)? 3. learned Counsel for parties agree that aforesaid substantial questions of law had been framed even in Tax Appeal No.30/2007, which relates to Assessment Year 1997-98. By separate Judgment and Order, we have today disposed of Tax Appeal No.30/2007. Therefore, even these two appeals are disposed of in terms of what we have held in our Judgment and Order delivered today disposing of Tax Appeal No.30/2007. 4. These Appeals are disposed of in aforesaid terms. There shall be no order as to costs. Smt. M.S. Jawalkar, J. M.S. Sonak, J. Sesa Goa Ltd. v. Commissioner of Income-tax, Panaji