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TMI Blog2017 (9) TMI 1632X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER Rajendra, AM Challenging the order dated 13/1/2009 of the CIT(A)XXXI, Mumbai, the Assessing Officer (AO) has filed the present appeal. The assessee is a joint stock company under the Ministry of Atomic Energy, Russian Federation, incorporated under the provisions of Russian Legislation having its registered office at Moscow, Russia. It is engaged in the business of commissioning of turnkey power project. Return of income was filed on 31/3/2006 declaring a total income of ₹ 12.30 crores. The AO completed the assessment on 31/12/2007 u/s. 143(3)of the Act determining its income at ₹ 1,23,06,44,210/-. 2.Effective Ground of appeal is about applicability of provisions of section 44BBB of the Act to the payment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n. 3.Aggrieved by the order of the AO the assessee preferred an appeal before the First Appellate Authority (FAA) and made elaborate submissions. After considering the available material,he decided the issue of applicability of the provisions of section 44 BBB in favour of the assessee . 4.Before us, the Departmental Representative (DR) fairly conceded that the issue stands decided against the AO and in favour of the assessee. The Authorised Representative (AR) brought to our notice that in the draft assessment order for the AY.2007-08 the AO had denied the assessee s similar claim, that the DRP in its directions had instructed the AO to accept the claim of the assessee, that the AO himself had accepted the position for the AY.s 2008- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the provisions of section 44 BBB. It is worth mentioning while deciding identical nature of dispute raised by the assessee for the assessment year 2007-08, 2008-09 and 2011-12, the Tribunal in its order, as referred to above, after analyzing the nature of contract, provisions of the Act, and relevant DTAA as well as the principles of law laid down in judicial precedents, in a detailed order ultimately concluded, since, supply of materials and equipments under the offshore supply contracts were carried out and concluded outside India, the receipts from off-shore supply contracts cannot be deemed to accrue or arise in India. The operative portion from the order of the Tribunal is extracted herein below: 15.Therefore, after analyzing th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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