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2018 (9) TMI 2119 - AT - Income TaxIncome taxable in India - Receipts from Offshore Supply Contracts - whether amounts received by the appellant company from the Offshore Supply Contracts are covered by the provisions of section 44BBB and consequently liable to tax in India? - HELD THAT:- Considering decisions of assessee’s own case in the earlier years from A.Y. 2007-08 to A.Y. 2013-14, we observe that identical issue was decided by the co-ordinate benches of the Tribunal in favour of the assessee by holding that amount received for supply of material and equipment under offshore supply contract is to be excluded from gross receipt for computing income under section 44BBB. Operative part of the decision [2017 (9) TMI 1999 - ITAT MUMBAI] as decided the issue in favour of the assessee by holding that the amount received by the assessee from supply of material and equipment under offshore supply contracts would not form part of the business receipts for the purpose of section 44BBB of the Act. Decided in favour of assessee.
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