TaxTMI 
TaxTMI 
2022 (6) TMI 1267
X X X X Extracts X X X X
X X X X Extracts X X X X
....6/Mum/2021 for A.Y.2014-15 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-2, Mumbai in appeal No.CIT(A)-Mumbai-2/10321/2016-17 dated 03/03/2021 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 09/12/2016 by the ld. Income Tax Officer 1(1)(2), Mumbai (hereinafter referred to as ld. AO)....
X X X X Extracts X X X X
X X X X Extracts X X X X
....y -OMAN" vide agreement dated 23/12/2013 on Terms and conditions agreed therein, wherein the Company was referred as Contractor. As per clause No. 7, Mobilisation and Demobilisation responsibility was of Contractor and accordingly the Company provided all services to the "Distinct Energy-Oman". In order to provide the contractual services to "Distinct Energy -Oman", the assessee company took a Ves....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ting the same as per requirement of contract but the ship owner billed to assessee company only USD 2,55,000/- as agreed in the contract. Accordingly, it was pleaded that the said mobilisation expenses of USD 255,000 is nothing but reimbursement of expenses incurred while vessel was made available for conducting seismic survey in Oman from India. The Ship Owner Company also billed stand by charges....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he Act, failure of which had resulted in disallowance u/s.40(a)(ia) of the Act. In fact the assessee had also submitted before the lower authorities that the payment made by the assessee was duly shown as receipt by the ship owner company as its income and offered the same to tax. The ld. AR placed on record the profit and loss account and balance sheet of the ship owner company wherein this sum o....