https://www.taxtmi.com/caselaws?id=270342 The Tribunal allowed the appeal of the assessee, directing that income from drilling activities through the provision of oilfield equipment on hire should be taxed under section 44BB of the Income-tax Act, 1961. The Tribunal held that revenue should not be taxed under section 115A and resolved in favor of the assessee on the issue of interest levy under section 234B, which would be adjusted based on the primary ruling. en-us Wed, 30 Dec 2015 00:00:00 +0530 Mon, 04 Jan 2016 12:59:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270342 The Tribunal allowed the appeal of the assessee, directing that income from drilling activities through the provision of oilfield equipment on hire should be taxed under section 44BB of the Income-tax Act, 1961. The Tribunal held that revenue should not be taxed under section 115A and resolved in favor of the assessee on the issue of interest levy under section 234B, which would be adjusted based on the primary ruling. Case-Laws Income Tax Wed, 30 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270342