2019 (4) TMI 356

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..... ipts of the assessee under section 44BB - HELD THAT:- Compensation for destruction and loss of capital asset which were utilized on a rig owned by ONGC was capital receipt and not taxable as revenue receipt under section 44BB Issue stand concluded in favour of the assessee. Departmental Appeal has no merit and the same is accordingly dismissed. - ITA.No.1742/Del./2016 - - - Dated:- 2-4-2019 - .....

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..... ONGC and different assessee, Schlumberger Asia Services Limited has not attained finality as the department has filed a SLP in the Hon'ble Apex Court. 2. The Ld. CIT(A) noted in his findings that similar issue involved in the case of ONGC, a different assessee M/s. Schlumberger Asia Services Ltd., the jurisdictional High Court held that compensation for destruction and loss of capital a .....

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..... e filed on record. 4. The only point raised by the Revenue in Departmental Appeal is that the decision in the case of M/s. Schlumberger Asia Services Ltd., has not attained finality. Since the SLP of the Department in this case have been dismissed by the Hon ble Supreme Court, therefore, the issue stand concluded in favour of the assessee. Departmental Appeal has no merit and the same is accord .....

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