Taxability of foreign currency expenditure: factual determinations to be made by local Commissionerate, not central board. The Board states that taxability of ONGC Videsh Ltd's foreign-currency expenditures involves complex factual questions dependent on overseas contracts, joint venture agreements and the mandate of overseas formations; such factual determinations should be examined and decided by the Commissionerate, which holds the full facts, and future factual queries should not be forwarded to the Board.
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Provisions expressly mentioned in the judgment/order text.
Taxability of foreign currency expenditure: factual determinations to be made by local Commissionerate, not central board.
The Board states that taxability of ONGC Videsh Ltd's foreign-currency expenditures involves complex factual questions dependent on overseas contracts, joint venture agreements and the mandate of overseas formations; such factual determinations should be examined and decided by the Commissionerate, which holds the full facts, and future factual queries should not be forwarded to the Board.
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