Uttarakhand High Court Dismisses Appeal on Income Tax Act Section 44BB Interpretation

The High Court of Uttarakhand dismissed the appeal as the amounts in question were found to be covered by Section 44BB of the Income Tax Act, following a judgment of the Honorable Apex Court. The Tribunal ruled that the amounts received for works like drilling of exploration wells are liable to be reckoned under Section 44BB. The appeal was dismissed with no order as to costs.

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The High Court of Uttarakhand dismissed the appeal as the amounts in question were found to be covered by Section 44BB of the Income Tax Act, following a judgment of the Honorable Apex Court. The Tribunal ruled that the amounts received for works like drilling of exploration wells are liable to be reckoned under Section 44BB. The appeal was dismissed with no order as to costs.

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