https://www.taxtmi.com/caselaws?id=307485 The Appellate Tribunal allowed the assessee's appeals regarding the taxability of amounts received under offshore supply contracts in India for assessment years 2012-13 & 2014-15. Relying on previous decisions, the Tribunal excluded the amount received for the supply of material and equipment under offshore contracts from gross receipts for income computation under section 44BBB. The Tribunal did not address the jurisdictional issue challenging the Assessing Officer under section 147 due to the favorable decision on the main taxability issue. Consequently, the Tribunal pronounced the orders in favor of the assessee. en-us Mon, 17 Sep 2018 00:00:00 +0530 Mon, 17 Apr 2023 21:15:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307485 The Appellate Tribunal allowed the assessee's appeals regarding the taxability of amounts received under offshore supply contracts in India for assessment years 2012-13 & 2014-15. Relying on previous decisions, the Tribunal excluded the amount received for the supply of material and equipment under offshore contracts from gross receipts for income computation under section 44BBB. The Tribunal did not address the jurisdictional issue challenging the Assessing Officer under section 147 due to the favorable decision on the main taxability issue. Consequently, the Tribunal pronounced the orders in favor of the assessee. Case-Laws Income Tax Mon, 17 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307485