https://www.taxtmi.com/caselaws?id=196333 The High Court ruled in favor of the assessee in an appeal under Section 260A of the Income Tax Act regarding the applicability of Section 44BB to offshore supply of equipment for the assessment year 2002-03. The Court held that only profits related to commissioning in India were taxable, not the purchase of equipment done outside India. Emphasizing divisible contracts and the absence of a sale element in India for manufacturing, the Court found in favor of the assessee, dismissing the department's appeal without costs. en-us Wed, 30 Nov 2016 00:00:00 +0530 Tue, 28 Nov 2017 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196333 The High Court ruled in favor of the assessee in an appeal under Section 260A of the Income Tax Act regarding the applicability of Section 44BB to offshore supply of equipment for the assessment year 2002-03. The Court held that only profits related to commissioning in India were taxable, not the purchase of equipment done outside India. Emphasizing divisible contracts and the absence of a sale element in India for manufacturing, the Court found in favor of the assessee, dismissing the department's appeal without costs. Case-Laws Income Tax Wed, 30 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196333