Court Upholds ITAT Ruling on Section 44BB for Mineral Oil Exploration Profits and Gains Calculation.

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....Applicability of Section 44BB - Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils - The High court reiterated the findings of the ITAT regarding the scope of work outlined in the contract. It emphasized that the terms of the contract were not contested and clearly fell within the purview of services "in connection with" mining activities, as per Section 44BB.....