Saturday, July 9, 2011

Income derived by applicant under contracts with ONGC & Cairn Energy for pr

Income derived by applicant under contracts with ONGC & Cairn Energy for processing & interpretation of seismic data is to be computed by applying s. 44BB

Income-tax : Activities of the applicant fit into description of section 44BB demanding computation of its income in accordance with this provision [Section 44BB of the Income-tax Act, 1961 - Non-residents - Mineral oil, business for prospecting/exploration, etc., in case of] - [2011] 10 taxmann.com 103 (AAR - New Delhi)

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