Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
Extracts
Home List
← Previous Next →

In RE : JSC SMNG-Center, Russia

2016 (11) TMI 739 - AUTHORITY FOR ADVANCE RULINGS NEW DELHI

Hiring of services for 3D OBC Seismic Data Acquisition & Processing in Sector-II - taxability in India in accordance with section 44BB(1) - Held that:- As decided in OIL & NATURAL GAS CORPORATION LIMITED Versus COMMISSIONER OF INCOME TAX & ANOTHER [2015 (7) TMI 91 - SUPREME COURT] the works carried out by the applicant are liable to be covered under the provisions, of Section 44BB of Income Tax Act. - We have taken the same view in four earlier rulings and, therefore, we are convinced that t .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ND RULING Justice V.S. Sirpurkar, Chairman - The applicant is a Russian company incorporated under the laws of Russia and is a tax resident of Russia. 2. The applicant is engaged in the business of rendering geophysical services to oil and gas exploration industry. Its core business activity includes 2D/3D seismic data acquisition in shallow water and transition zone. It is also engaged in study of earth's structure to identify existence of hydrocarbon which assists oil companies in identify .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ring field season 2013-14. 4. On the basis of this, the applicant has one question as under:- "Whether revenues earned by the Applicant under contract No. MRA/WOB/MMSC/3D(OBC)/19/2013/P968L13002/EB-2184/90 100 19008 dated 24th December, 2013 with Oil & Natural Gas Corporation Limited ('ONGC') for hiring of services for 3D OBC Seismic Data Acquisition & Processing in Sector-II are taxable in India in accordance with section 44BB(1) of the Income Tax Act, 1961 ('Act') .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

.2016 that this matter is covered by the Apex Court's judgment dated 1.7.2015 in ONGC Ltd. v. CIT [2015] 376 ITR 306. They have also indicated in their reply that the Apex Court has held that the works carried out by the applicant are liable to be covered under the provisions, of Section 44BBof Income Tax Act. 7. In short, the Department seems to have agreed with the contention raised by the applicant that the activities of the applicant in this case are covered in the language of Section 44 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

eing a non-resident, engaged in the business of providing services or facilities in connection with, or supplying plant and machinery on hire used, or to be used, in the prospecting for, or extraction or production of, mineral oils, a sum equal to ten per cent of the aggregate of the amounts specified in sub-section (2) shall be deemed to be the profits and gains of such business chargeable to tax under the head "Profits and gains of business or profession". Provided that this sub- sec .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version