AO was not justified in holding that the income of the assessee ...

Income from Drilling Activities Misclassified by AO; Correctly Taxable u/s 44BB, Not as Technical Services.

January 4, 2016

Case Laws Income Tax AT

AO was not justified in holding that the income of the assessee arising from performance of associated drilling activity through the provisions of oil field equipment on hire along with operating personnel, used the exploration/prospecting/extraction of mineral oil were fees for technical services under Section 9(1)(vii) of the Act and was chargeable to tax @ 20% of the gross revenue u/s 115A of the Act and not taxable u/s 44BB of the Act - AT

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AO was not justified in holding that the income of the assessee ...

Income from Drilling Activities Misclassified by AO; Correctly Taxable u/s 44BB, Not as Technical Services.

January 4, 2016

Case Laws Income Tax AT

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