https://www.taxtmi.com/caselaws?id=203290 The Authority for Advance Ruling interpreted section 44BB of the Income-tax Act, 1961, regarding income computation for a non-resident company providing seismic data services to ONGC and Cairn Energy. The Authority ruled in favor of applying section 44BB, stating that the services were essential for prospecting mineral oils, aligning with previous decisions on geophysical services' contribution to oil and gas exploration. The judgment on March 15, 2011, affirmed the application of section 44BB for computing the company's income from the contracts with ONGC and Cairn Energy. en-us Tue, 15 Mar 2011 00:00:00 +0530 Sat, 24 Mar 2012 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203290 The Authority for Advance Ruling interpreted section 44BB of the Income-tax Act, 1961, regarding income computation for a non-resident company providing seismic data services to ONGC and Cairn Energy. The Authority ruled in favor of applying section 44BB, stating that the services were essential for prospecting mineral oils, aligning with previous decisions on geophysical services' contribution to oil and gas exploration. The judgment on March 15, 2011, affirmed the application of section 44BB for computing the company's income from the contracts with ONGC and Cairn Energy. Case-Laws Income Tax Tue, 15 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203290