TMI Blog2017 (9) TMI 1999X X X X Extracts X X X X X X X X Extracts X X X X ..... A provisions and accordingly, not chargeable to tax. The receipts thereof do not form part of receipts for the purpose of computational provisions of section 44BBB. Explanation-4 could not overcome the limitation imposed by Explanation-l(a) to section 9(i)(i) and hence, the impugned income do not form part of business receipts for computation of income u/s 44BBB . Decided in favour of assessee. - ITA. 619/Mum/2017 - - - Dated:- 6-9-2017 - S/SH. RAJENDRA, ACCOUNTANT MEMBER AND RAVISH SOOD, JUDICIAL MEMBER For the Revenue : Shri Samuel Darse-CIT-DR For the Assessee : Shri Nitesh Joshi -AR Order u/s. 254(1)of the Income-tax Act, 1961(Act) PER RAJENDRA, AM- Dispute Resolution Panel(DRP), Mumbai, the Assessee ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct to the fees received from NPICL in respect of Offshore Service Contracts, that it claimed that the receipts under Offshore Supply Contracts were not taxable in India, that income received from the contract of priority design work were to be taxed @ 10% under the head payments received towards royalty. He asked the explain as to why the receipt of Rs. 183.78 crores received by it on account of offshore supply contract should not be taxed in India. After considering the submissions of the assessee and the Directions of the DRP, the AO held that income of the assessee from the offshore service contract and offshore supply contracts was taxable in India as per the provisions of section 44BBB of the Act. 3. Before us, representatives of bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment year 2006-07 onwards It is relevant to note, the taxability of the amount received under . the off-shore contract is a contentious issue between the assessee and the Department right from the assessment year 2006-07. In fact in the impugned assessment year, the Assessing Officer following the order of the DRP for assessment year 2006-07 and 2007-08, has brought to tax the amount received under off-shore supply contracts by applying identical nature of dispute raised by the assessee for assessment year 2007-08, 2008-09 and 2011-12, the Tribunal in its order, as referred to above, after analyzing the nature of contract, provisions of the Act, and relevant DTAA as well as the principles of law laid down in judicial precedents, in a detail ..... X X X X Extracts X X X X X X X X Extracts X X X X
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