https://www.taxtmi.com/caselaws?id=235651 The court dismissed the writ petition filed by Joshi Technologies International Inc., seeking benefits under section 42 of the Income-tax Act, 1961, for two production sharing contracts. The court found no evidence of the benefits being intended or overlooked during contract execution. It held that the Ministry did not grant such benefits for small discovered oil fields due to lower risks compared to undiscovered fields. The court also noted the petitioner's failure to raise the issue during negotiations and dismissed the petition without costs. en-us Mon, 28 May 2012 00:00:00 +0530 Tue, 30 Jul 2013 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235651 The court dismissed the writ petition filed by Joshi Technologies International Inc., seeking benefits under section 42 of the Income-tax Act, 1961, for two production sharing contracts. The court found no evidence of the benefits being intended or overlooked during contract execution. It held that the Ministry did not grant such benefits for small discovered oil fields due to lower risks compared to undiscovered fields. The court also noted the petitioner's failure to raise the issue during negotiations and dismissed the petition without costs. Case-Laws Income Tax Mon, 28 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235651