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2003 (7) TMI 28 - HC - Income TaxExploration Of Oil - Whether, Tribunal is legally justified in: 1. Upholding the order of CIT (Appeals) who held that the amount of corporate tax paid by the OIL on behalf of the company falls under section 44BB(2) and therefore, only 10 per cent. of that amount may be treated as income of the assessee? And 2. Observing that the amount of corporate taxes paid by the OIL on behalf of the non-resident company does not amount to perquisite within the meaning of section 28 (iv)?" - We answer the questions referred to us in the affirmative, i.e., in favour of the assessee and against the Department.
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