TaxTMI 
TaxTMI 
2017 (9) TMI 1632
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....ncome was filed on 31/3/2006 declaring a total income of Rs. 12.30 crores. The AO completed the assessment on 31/12/2007 u/s. 143(3)of the Act determining its income at Rs. 1,23,06,44,210/-. 2.Effective Ground of appeal is about applicability of provisions of section 44BBB of the Act to the payments received by the assessee from Nuclear Power Corporation of India Ltd.(NPCIL). During the assessment proceedings, the AO found that the assessee (ATOM) had entered into an agreement with NPCIL on 20/07/1998 for preparation of a DRP for setting up Nuclear Power Station (NPS )at various locations in India, that NPCIL was in the process of setting up a NPS at Kunnamkulam(KKMPP).The Government of India and Russia identified NPCIL and ATOM to execute....
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....presentative (AR) brought to our notice that in the draft assessment order for the AY.2007-08 the AO had denied the assessee's similar claim, that the DRP in its directions had instructed the AO to accept the claim of the assessee, that the AO himself had accepted the position for the AY.s 2008-09 and 2010-11. He further stated that income earned by the assessee from service contract had to be computed as per the provisions of section 44 BBB .He referred to the order of the Tribunal in assessee's own case, for the AY 2009-10 and 2010-11 (ITA/6581/Mum/ 2012 and ITA/6401/Mum/2013 dt.22.3.2017).He also relied upon the case of NPCIL (ITA/6394/Mum/ 2008 dt.12/2/2016 (appeal by the AO) and ITA.s 733, 734, 735 and 931/Mum/2011 ) We are reproducing....
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....ents under the offshore supply contracts were carried out and concluded outside India, the receipts from off-shore supply contracts cannot be deemed to accrue or arise in India. The operative portion from the order of the Tribunal is extracted herein below: "15.Therefore, after analyzing the various case laws, statutory provisions, DTAA provisions and contractual terms and respectfully following judgment of Hon'ble Supreme Court in Ishikawajima - Harima Heavy Industries Limited V/s DCIT (288 ITR 408), we are inclined to hold that Offshore Supply contracts were "carried and concluded" outside India and hence no income therefrom deemed to accrue or arise in India as per section 991) and DTAA provisions accordingly, not chargeable to tax....