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2016 (9) TMI 346 - AAR - Income TaxApplication of section 44BB - applicant company is formed and registered under the laws of U.K and is also resident of that county entered into a contract with Oil & Natural Gas Corporation Ltd. (ONGC) for hiring of services Held that:- We answer the ruling in favour of the applicant and hold that the consideration received by the applicant from the aforementioned contract dated 13-3-2012 being contract No. MR/WOB/MM/SC/2D(LO)64/2011/P96DL11005/EB-2167 between Oil and Natural Gas Corporation Limited and Marine Geology Services LLP will be covered under section 44BB of the Income-tax Act, 1961.
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