https://www.taxtmi.com/caselaws?id=330228 The Tribunal upheld the Dispute Resolution Panel's decision directing the Assessing Officer to apply the deemed profit rate of 10% under section 44BB of the Income Tax Act on revenues earned by the assessee from a non-resident company for providing technical personnel for contracts with ONGC for the Assessment Year 2009-10. The Tribunal found that the services provided were integral to drilling operations for oil prospecting, and therefore, the income should be taxed under section 44BB. The Revenue's appeals were dismissed, affirming the application of section 44BB to tax the income. en-us Mon, 11 Jul 2016 00:00:00 +0530 Thu, 25 Jun 2026 13:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330228 The Tribunal upheld the Dispute Resolution Panel's decision directing the Assessing Officer to apply the deemed profit rate of 10% under section 44BB of the Income Tax Act on revenues earned by the assessee from a non-resident company for providing technical personnel for contracts with ONGC for the Assessment Year 2009-10. The Tribunal found that the services provided were integral to drilling operations for oil prospecting, and therefore, the income should be taxed under section 44BB. The Revenue's appeals were dismissed, affirming the application of section 44BB to tax the income. Case-Laws Income Tax Mon, 11 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330228