https://www.taxtmi.com/caselaws?id=403773 Receipts from services connected with mineral oil operations were held to fall under the presumptive regime of section 44BB, and section 44DA was held inapplicable on the facts. Interest on income-tax refund was held taxable as business income in line with jurisdictional precedent, while the dispute on interest under sections 234B and 234C was considered in the context of tax-deduction-at-source consequences. The TDS credit and related rectification matters were restored to the Assessing Officer for verification and decision in accordance with law. Penalty grounds were not pressed, and the stay application became infructuous after disposal of the appeal. en-us Thu, 31 Dec 2020 00:00:00 +0530 Mon, 08 Feb 2021 09:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403773 Receipts from services connected with mineral oil operations were held to fall under the presumptive regime of section 44BB, and section 44DA was held inapplicable on the facts. Interest on income-tax refund was held taxable as business income in line with jurisdictional precedent, while the dispute on interest under sections 234B and 234C was considered in the context of tax-deduction-at-source consequences. The TDS credit and related rectification matters were restored to the Assessing Officer for verification and decision in accordance with law. Penalty grounds were not pressed, and the stay application became infructuous after disposal of the appeal. Case-Laws Income Tax Thu, 31 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403773