Dry Docking Expenses - The maintenance of vessels and rigs is a ...

Court Rules Dry Docking Expenses as Operational, Not Capital, for Oil Exploration Vessels and Rigs Maintenance.

June 4, 2015

Case Laws Income Tax HC

Dry Docking Expenses - The maintenance of vessels and rigs is a sine-qua-non for carrying on its business of exploration and production of oil - the opinion that AO was not right in disallowing the expenditure as capital expenditure - HC

View Source

← Previous Next →

Dry Docking Expenses - The maintenance of vessels and rigs is a ...

Court Rules Dry Docking Expenses as Operational, Not Capital, for Oil Exploration Vessels and Rigs Maintenance.

June 4, 2015

Case Laws Income Tax HC

You may also like:

Disallowance of exploration expenses pertaining to Pranhita Godavari (PG) Block - the unsuccessful oil exploration expenses is allowable u/s 42(1)(a)

Classification and assessment of oil contained in the bunker tanks, both inside and outside the engine room of a vessel imported for breaking up - Tribunal had allowed...

Seeks to exempt crude petroleum oil produced in specified oil fields under production sharing contracts or in the exploration blocks offered under the New Exploration...

Maintainability of appeal before the High Court - appropriate forum - Claiming exemption from duty of customs on foreign going going vessel - the High Court is right in...

Valuation of goods - old and used self-propelled platform supply vessel Sagar Fortune - The justification offered for invoking rule 12 of Customs Valuation...

Oil contained in bunker tanks in the engine room of a vessel imported for breaking up is classifiable under CTH 8908 along with the vessel itself. This issue has been...

Valuation of imported goods - Sludge/Sediments found in the vessel imported for breaking - The Tribunal held that, the department could not establish conclusively that...

Classification of goods - parts of vessels or not - Forced Lubrication Pumps, Emergency Lube Oil Pumps, DG Lub Oil Transfer Pumps and Triple Screw Pumps supplied to the...

The Supreme Court upheld the validity of the Explanations to Rule 38 of the Mineral (Other than Atomic and Hydrocarbons Energy Minerals) Concession Rules, 2016 and Rule...

The ITAT ruled that Portfolio Management Service (PMS) fees paid by the appellant to portfolio managers qualify as expenses "wholly and exclusively incurred in...

The petitioner challenged the imposition of entry tax on crude soybean oil brought into Madhya Pradesh for manufacturing/refining soybean refined oil under the MPCT Act...

The adjudicating authority is bound to explain the alleged contraventions to the person proceeded against or their legal representatives. Rule 4(4) mandates...

Input Tax Credit - applicant is under Marginal Scheme - there is no bar on the registered tax payer to claim input tax credit on input services and corresponding...

Impugned show cause notice for shortfall in service tax payment based on Rule 5(1) of Service Tax (Determination of Value) Rules, 2006 quashed as ultra vires Section 67...

Demand of custom duty and imposition of penalty - non payment of duty on slop/waste Oil of foreign origin - The Tribunal noted that the waste oil collected during...

Quick Updates: