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2016 (8) TMI 322 - AT - Income TaxTaxability in India - Proportionate amount received for demobilization of vessels outside Indian territorial waters to be included in the gross receipts u/s 44BB - As per assessee this income is not chargeable to tax in India as per section 5 read with section 9 of the Act - Held that:- This issue has already been decided by the Hon’ble High Court in case of Sedco Forex International Inc. vs. Commissioner of Income-tax [2007 (9) TMI 196 - UTTARAKHAND HIGH COURT ] against the assessee, so the ld. CIT (A) has rightly held that mobilization charges constitute part of the gross receipts of the assessee as per provisions contained u/s 44BB - Decided against revenue Receipts from non-PSC Partners on account of supplies of plant and machinery on hire - whether not eligible for treatment under presumptive provisions of section 44BB - Held that:- Issue has already been determined in favour of the assessee in its own case qua AYs 2004-05, we find no illegality or perversity in the findings returned by the ld. CIT (A) reversing the order passed by the AO as to the holding the assessee’s revenue on account of equipment rent under contract with non-PSC Partners taxed u/s 44DA of the Act. So, we are of the considered view that the contracts entered into between the assessee and other parties, known as second leg contracts are eligible for benefits of tax treatment u/s 44BB of the Act. - Decided against revenue
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