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TMI Blog2024 (9) TMI 788X X X X Extracts X X X X X X X X Extracts X X X X ..... erved that there has been no change neither in the terms of the agreements nor in the nature of work carried out as per the said contract. As decided in earlier years after analyzing the various case laws, statutory provisfonc, DTA/ provisions and contractual terms and respectfully following judgment of Ishikawajima- Harirna Heavy Industries Limited [ 2007 (1) TMI 91 - SUPREME COURT ] we are inclined to hold that Offshore Supply contracts were 'carried and concluded- outside India and hence no income therefrom deemed to accrue or arise in India as per section 9(1) and DTAA provisions and accordingly, not chargeable to tax. The receipts thereof do not form part of receipts for the purpose of computational provisions of section 44BBB. Exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 03.2022, declaring total income at Rs. 171,50,98,094/-. The assessee s case was selected for scrutiny and notices u/s. 143(2) and 142(1) of the Act were duly issued and served upon the assessee. 4. During the assessment proceeding, the ld. learned Assessing Officer ('ld. A.O.' for short) observed that six 1000 MW of Nuclear Power Plant units were set up at Kundankulam, Tamil Nadu by Nuclear Power Corporation of India Ltd. (NPCIL for short) as per the Agreement for Co-operation for Construction of a Nuclear Power Station entered into between Republic of India and Russian Federation, through authorized governmental bodies namely Atomsstroyexport (ASE), i.e., the assessee in this case and NPCIL which is a Government of India Company, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 600/-. 6. Aggrieved the assessee is in appeal before us, challenging the impugned order. 7. We have heard the rival submissions and perused the materials available on record. It is observed that the assessee has received an amount of Rs. 3480,80,55,095/- on offshore supply contracts which the assessee alleges to be not taxable in India by relying on the decision of the Hon'ble Apex Court in the case of Ishikawajima Harima Heavy Industries Co. Ltd. v. DIT [2007] 288 ITR 408/158 Taxman 259 (SC), wherein it was held that as the offshore service contract was carried out and concluded outside India, there is no income which is deemed to accrue or arise in India as per section 9(1) of the Act and the DTAA provisions. The assessee further stat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment year and prayed that the impugned addition be deleted. 10. The learned Departmental Representative (ld. DR for short) on the other hand, raised an objection for following the earlier year s decision on the ground that the Revenue has already preferred an appeal before the Hon'ble Jurisdictional High Court and had also filed a copy of the order of the Hon'ble High Court in admitting the said appeal. The ld. DR relied on the order of the lower authorities. 11. On the above factual matrix on the case, it is evident that this issue has been consistently arising in the previous years since A.Y. 2007-08 and has been decided by the co-ordinate bench in favour of the assessee for this year and for the subsequent years. It is also ..... X X X X Extracts X X X X X X X X Extracts X X X X
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