Income from oil exploration, royalties, and equipment leasing taxed u/s 44BB of the Income Tax Act.

Exploration/ prospecting/extraction of mineral oil - income arising on account of royalty/FTS, letting out of equipment etc. was to be taxed u/s 44BB - Income on account of provision of equipment and services earned by the assessee company shall be taxable as per the provisions of Section 44BB of the Act. - AT .....

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