2008 (4) TMI 286

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....ed by the Commissioner of Income-tax (Appeals), Dehradun, (hereinafter referred as "the CIT(A)") is set aside. The Commissioner of Income-tax (Appeals) dismissed the appeal of the assessee and affirmed the assessment order passed by the Assessing Officer under section 143(3) of the Income-tax Act, 1961. 2. Heard learned counsel for the parties. 3. The brief facts of the case are that Oil and Natural Gas Commission Limited (hereinafter referred as "the ONGC") is representative of the non-resident company (hereinafter referred as NRC) respondent-assessee in the case. The assessee has rendered its services to ONGC for the purposes of exploration, extraction and production of mineral oils. During the year under consideration, the assessee....

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....hargeable to tax under the head 'Profits and gains of business or profession': Provided that this sub-section shall not apply in a case where the provisions of section 42 or section 44D or section 115A or section 293A apply for the purposes of computing profits or gains or any other income referred to in those sections." 7. The above sub-section (1) of section 44BB of the Act contains the proviso quoted above which provides that the sub-section would not apply where the provisions of section 42, 44D, 115A or 293A are applicable in computing the profits and gains or income of the assessee. Learned counsel for the appellants has argued that since the assessee has only rendered technical services for which it has been paid the fee as suc....