SC reserves judgment on taxation of mobilisation fees for oil rigs u/s 44BB

Sep 08,2017

SC reserves judgement on taxation of mobilisation/ demobilsation fees for oil rigs u/s 44BB in a batch of 50 appeals against Uttarakhand HC judgment; Assessee's counsels, Senior Advocates Porus Kaka and Ajay Vohra argue that Sec. 44BB is a computation provision which would trigger only if the income is chargeable to tax in India in accordance with provisions of Sec. 4,5 & 9 of the Income-tax Act or the relevant DTAA; Assessee's counsels further argue that to the extent of internation...

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