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Income Tax Appellate Tribunal, DELHI BENCH “B”: NEW DELHI
Before: SHRI KULDIP SINGH & SHRI PRASHANT MAHARISHI
O R D E R PER PRASHANT MAHARISHI, A. M. 1. This appeal is filed by the assessee against the order of the ld Assessing Officer dated 30.01.2015 passed u/s 143(3) read with section 144C(3)(b) of the Income Tax Act, 1961 for Assessment Year 2012-13 raising following grounds of appeal:- “1. That the ld CIT(A) has erred on facts and in law in affirming the action of the AO in holding that the amount aggregating to Rs. 85435158 being the proportionate amount received by the appellant for mobilization of the rig outside Indian territorial waters is to be included in the gross receipts u/s 44BB of the Income Tax Act 1961 as opposed to the claim of the appellant that the same does not constitute income chargeable to tax in India as per section 5 read with section 9 of the Income Tax Act.
2. That the ld CIT(A) has erred on facts and in law in affirming the action of the AO in holding that the receipts on account of reimbursement of expenses amounting to Rs. 342000/- were includible in the gross receipts for the purpose of determination of income u/s 44BB of the Act as opposed to the claim of the appellant that the same cannot given rise to income for taxation purposes.”
The brief facts of the case is that the assessee is engaged in providing services and facilities in connection with exploration of mineral oil. It filed its return of income for AY 2011-12 on 29.09.2012 declaring income of Rs. 200092310/-. The income was offered u/s 44BB of the Income Tax Act. However, the claim of the assessee is that reimbursement of Rs.