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2009 (12) TMI 6 - AAR - Income TaxSeismic data acquisition and processing services are an integral part of the process of prospecting for, or extraction of mineral oil which includes petroleum and gas - Applicability of section 44BB or Section 44DA – CBDT circular – held that - The Circular, therefore, clarified that Section 44BB was applicable. We cannot accept the contention of the departmental representative in view of the discussion at paragraphs 7.4 and 7.5 of the above ruling and the background in which the Circular was issued was also explained. No case has been made out for reconsideration on this aspect. Moreover the conclusion was reached irrespective of the circular and on the interpretation of Section 44BB for which elaborate reasons were given. - Therefore, it is held that the income earned by the applicant in India is covered under the provisions of 44BB of the Income-tax Act, 1961
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