https://www.taxtmi.com/caselaws?id=352033 The Tribunal upheld the decision that the income of a Singapore-based company engaged in ship operations should be taxed under Section 44BB, not Section 44B, of the Income Tax Act. The Tribunal ruled that the company's specialized vessels for mineral oil exploration activities fell within the scope of Section 44BB. Additionally, the Tribunal determined that service tax collected should not be included in gross receipts for computing income under Section 44BB, as it is a statutory payment. All appeals were dismissed, affirming the First Appellate Authority's orders for the relevant assessment years. en-us Thu, 30 Nov 2017 00:00:00 +0530 Wed, 06 Dec 2017 08:09:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352033 The Tribunal upheld the decision that the income of a Singapore-based company engaged in ship operations should be taxed under Section 44BB, not Section 44B, of the Income Tax Act. The Tribunal ruled that the company's specialized vessels for mineral oil exploration activities fell within the scope of Section 44BB. Additionally, the Tribunal determined that service tax collected should not be included in gross receipts for computing income under Section 44BB, as it is a statutory payment. All appeals were dismissed, affirming the First Appellate Authority's orders for the relevant assessment years. Case-Laws Income Tax Thu, 30 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352033