https://www.taxtmi.com/caselaws?id=278810 Section 44BB was treated as a self-contained computation regime for qualifying oilfield services, so reimbursements received from the contract counterparty formed part of the gross receipts for taxation and were included in the taxable base. Receipts from supplying a barge or equipment to L&T on hire for use in mineral oil operations were also held to fall within section 44BB, and were not to be characterised as royalty merely because the arrangement was a second-leg contract. The reimbursement issue was decided against the assessee, while the L&T contract receipts were held taxable under section 44BB rather than as royalty. en-us Mon, 13 Nov 2017 00:00:00 +0530 Fri, 22 Feb 2019 06:06:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278810 Section 44BB was treated as a self-contained computation regime for qualifying oilfield services, so reimbursements received from the contract counterparty formed part of the gross receipts for taxation and were included in the taxable base. Receipts from supplying a barge or equipment to L&T on hire for use in mineral oil operations were also held to fall within section 44BB, and were not to be characterised as royalty merely because the arrangement was a second-leg contract. The reimbursement issue was decided against the assessee, while the L&T contract receipts were held taxable under section 44BB rather than as royalty. Case-Laws Income Tax Mon, 13 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278810