https://www.taxtmi.com/caselaws?id=218747 The case involved the determination of taxable income under Section 44BB for an assessee with a permanent establishment in India. The dispute centered on the inclusion of revenue from the sale of goods/materials outside India in the taxable income. The Tribunal held that such revenue was subject to taxation under Section 44BB. The High Court found that the Assessing Officer's failure to segregate revenue from service contracts constituted an error prejudicing revenue. Consequently, the Court dismissed the appeal, affirming the validity of the exercise of power under Section 263 due to the Assessing Officer's oversight. en-us Wed, 03 Oct 2012 00:00:00 +0530 Sat, 24 Nov 2012 01:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218747 The case involved the determination of taxable income under Section 44BB for an assessee with a permanent establishment in India. The dispute centered on the inclusion of revenue from the sale of goods/materials outside India in the taxable income. The Tribunal held that such revenue was subject to taxation under Section 44BB. The High Court found that the Assessing Officer's failure to segregate revenue from service contracts constituted an error prejudicing revenue. Consequently, the Court dismissed the appeal, affirming the validity of the exercise of power under Section 263 due to the Assessing Officer's oversight. Case-Laws Income Tax Wed, 03 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218747