https://www.taxtmi.com/caselaws?id=9558 Section 24AA of the Companies (Profits) Surtax Act, 1964 permitted surtax exemption only for the class of foreign companies expressly covered by the notification, namely those engaged by association or participation in mineral oil operations. A foreign contractor under a service contract was held outside that limited class because the agreement was for services, not participation in prospecting, extraction, or production of mineral oils, and the claimed exemption was unavailable. en-us Thu, 15 Dec 2005 00:00:00 +0530 Sat, 27 Jun 2009 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9558 Section 24AA of the Companies (Profits) Surtax Act, 1964 permitted surtax exemption only for the class of foreign companies expressly covered by the notification, namely those engaged by association or participation in mineral oil operations. A foreign contractor under a service contract was held outside that limited class because the agreement was for services, not participation in prospecting, extraction, or production of mineral oils, and the claimed exemption was unavailable. Case-Laws Income Tax Thu, 15 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9558