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2023 (10) TMI 379 - AT - Income TaxDetermination of income on presumptive basis - Determination of the income in accordance with the provisions of section 44BB - assessee’s nature of business is to provide services and facilities for prospecting/ extraction/ production of mineral oil - HELD THAT:- As relying on assessee’s own case for AY 2011-12 [2023 (10) TMI 311 - ITAT DEHRADUN] we note that the Tribunal has elaborately considered the contract and provisions of law and finally come to the conclusion that income of the assessee should be determined on presumptive basis as per section 44BB(1) of the Act in the peculiar facts and circumstances of the case. We respectfully follow the same and direct accordingly.
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