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2009 (12) TMI 4 - AAR - Income TaxExploration operations - Scope of Section 44BB – Computation of income – Section 44BB versus 44DA - The applicant provides geophysical services to international oil and gas industry. The applicant conducts seismic surveys and provides on-shore seismic data acquisition and other associated services such as processing and interpretation of such data to global and oil companies – held that - section 44D undoubtedly took precedence over section 44BB - there is nothing in Section 44DA which has the effect of superseding or overriding Section 44BB. Both these provisions should be harmoniously read. If so read, the profits derived from business of providing services in connection with the prospecting for or extraction or production of mineral oil are squarely and exclusively governed by Section 44BB, irrespective of the nature of services, provided the services are intimately connected to Prospecting and exploration of oil
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