The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has observed that income earned by the assessee from the offshore supply of escalators and elevators is not taxable in India.The two-member bench of G.S. Pannu (President) and Sandeep Singh Karhail (Judicial Member) have observed that the property in goods passes on to the buyer at the port of shipment. Though the cost,...
