ONGC v. CIT

376 ITR 306Supreme Court of India2015#363 most cited

What is ONGC v. CIT authority for?

Income derived by a non-resident for services related to mineral oil operations, falling under the presumptive taxation regime of Section 44BB, cannot simultaneously be treated as fees for technical services under Section 9(1)(vii). The specific presumptive provisions override the general FTS definition, particularly when DTAA applies.

241

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2015 to 2026.

Also referred to as

ONGC v. CIT · Section 44BB · Section 44DA · Section 9(1)(vii) · fees for technical services · FTS · presumptive taxation · non-resident income · DTAA · permanent establishment

Also reported as

59 Taxmann.com 1

Sections most often in play

Section 44BBSection 143(3)Section 44DASection 9(1)(vii)Section 43ASection 115ASection 147Section 148

Issues it is cited on

section 44dasection 44bbsection 44dsection 44bsection 115asection 92c(2)section 42section 9(1)(vii)section 9(1)fees for technical servicessection 9(1)(vi)permanent establishment

Judgments citing ONGC v. CIT

DCIT Corporate Circle 2(1), Chennai vs. The India Cements Ltd., Chennai

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

ITA 737/CHNY/2018[2013-14]Status: DisposedITAT Chennai18 Aug 2021AY 2013-14

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri G. Srinivasa Rao, CIT
Section 115VSection 14A

…ng said aspect, but simply deleted addition made by the AO. 15.4 The ld.AR for the assessee on the other hand submitted that this issue is squarely covered in favour of the assessee by the decisions of Hon’ble Supreme Court in the case of ONGC Ltd., vs. CIT, 322 ITR 180 and further, in the case of Woodward Governor India (P.) Ltd., vs. CIT, 312 ITR 254. He further submitted that the assessee has incurred loss on account of redemption of FCCBs due to fluctuation in foreign currency and hence, it is in the nature of revenue expenditure, because the proceeds of FCCBs was utilized in the business operation of the as…

DCIT-2(1), Chennai vs. The India Cements Ltd, Chennai

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

ITA 2210/CHNY/2017[2008-09]Status: DisposedITAT Chennai18 Aug 2021AY 2008-09

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri G. Srinivasa Rao, CIT
Section 115VSection 14A

…ng said aspect, but simply deleted addition made by the AO. 15.4 The ld.AR for the assessee on the other hand submitted that this issue is squarely covered in favour of the assessee by the decisions of Hon’ble Supreme Court in the case of ONGC Ltd., vs. CIT, 322 ITR 180 and further, in the case of Woodward Governor India (P.) Ltd., vs. CIT, 312 ITR 254. He further submitted that the assessee has incurred loss on account of redemption of FCCBs due to fluctuation in foreign currency and hence, it is in the nature of revenue expenditure, because the proceeds of FCCBs was utilized in the business operation of the as…

DCIT, Corporate Circle -2(1), Chennai vs. The India Cements Ltd., Chennai

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

ITA 2145/CHNY/2017[2012-13]Status: DisposedITAT Chennai18 Aug 2021AY 2012-13

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri G. Srinivasa Rao, CIT
Section 115VSection 14A

…ng said aspect, but simply deleted addition made by the AO. 15.4 The ld.AR for the assessee on the other hand submitted that this issue is squarely covered in favour of the assessee by the decisions of Hon’ble Supreme Court in the case of ONGC Ltd., vs. CIT, 322 ITR 180 and further, in the case of Woodward Governor India (P.) Ltd., vs. CIT, 312 ITR 254. He further submitted that the assessee has incurred loss on account of redemption of FCCBs due to fluctuation in foreign currency and hence, it is in the nature of revenue expenditure, because the proceeds of FCCBs was utilized in the business operation of the as…

The India Cements Ltd., Chennai vs. DCIT Corporate Circle 2(1), Chennai

In the result, the cross objection filed by the assessee is partly allowed for statistical purpose

ITA 2038/CHNY/2017[2009-10]Status: DisposedITAT Chennai18 Aug 2021AY 2009-10

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos: 2145 & 2210/Chny/2017, Ita 737/Chny/2018 िनधा"रण वष" / Assessment Years: 2012-13, 2008-09 & 2013-14 The Deputy Commissioner Of M/S. The India Cements Ltd., Income Tax, V. No.93, Coromandel Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकर अपील सं./Ita No: 2038/Chny/2017 िनधा"रण वष" / Assessment Year: 2009-10 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent) & Co No.: 76/Chny/2018 (In Ita No.737/Chny/2018) िनधा"रण वष" / Assessment Year: 2013-14 M/S. The India Cements Ltd., The Deputy Commissioner Of Income Tax, V. No.93, Coromandal Towers, Corporate Circle – 2(1), Santhome High Road, Chennai – 34. R.A. Puram, Chennai – 600 028. Pan: Aaact 1728P (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri G. Srinivasa Rao, CIT
Section 115VSection 14A

…ng said aspect, but simply deleted addition made by the AO. 15.4 The ld.AR for the assessee on the other hand submitted that this issue is squarely covered in favour of the assessee by the decisions of Hon’ble Supreme Court in the case of ONGC Ltd., vs. CIT, 322 ITR 180 and further, in the case of Woodward Governor India (P.) Ltd., vs. CIT, 312 ITR 254. He further submitted that the assessee has incurred loss on account of redemption of FCCBs due to fluctuation in foreign currency and hence, it is in the nature of revenue expenditure, because the proceeds of FCCBs was utilized in the business operation of the as…

Joint Commissioner of Income Tax Ltu (OSD) Circle-1, Bangalore vs. M/S Toyota Kirloskar Motors Pvt Ltd, Bangalore

In the result, the appeal filed by the Revenue and assessee are partly allowed for statistical purposes

ITA 2016/BANG/2018[2013-14]Status: DisposedITAT Bangalore18 Aug 2021AY 2013-14

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

For Appellant: Sri.P.C.Kincha, CAFor Respondent: Sri.Muzaffar Hussaain, CIT-DR
Section 192

…te of settlement has to be treated as speculative loss in terms of section 43(5). At this juncture it is pertinent to note that the assessee cannot place reliance on the decisions of the Hon’ble Supreme Court in the cases of Woodward Governors (supra) & ONGC (322 ITR 180) in view of the following reasons: (i) The issue before the Supreme Court in the case of Woodward Governor India Pvt. Ltd. (supra) (312 ITR 254) was whether the additional liability arising on account of fluctuation in the rate of exchange in respect of loans taken for revenue purposes could be allowed as a deduction u/s 37(1) in the year of fluc…

M/S. Toyota Kirloskar Motor Private Limited, Bangalore vs. The Assistant Commissioner of Income Tax, Circle-1, Ltu, Bangalore

In the result, the appeal filed by the Revenue and assessee are partly allowed for statistical purposes

ITA 1972/BANG/2018[2013-14]Status: DisposedITAT Bangalore18 Aug 2021AY 2013-14

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

For Appellant: Sri.P.C.Kincha, CAFor Respondent: Sri.Muzaffar Hussaain, CIT-DR
Section 192

…te of settlement has to be treated as speculative loss in terms of section 43(5). At this juncture it is pertinent to note that the assessee cannot place reliance on the decisions of the Hon’ble Supreme Court in the cases of Woodward Governors (supra) & ONGC (322 ITR 180) in view of the following reasons: (i) The issue before the Supreme Court in the case of Woodward Governor India Pvt. Ltd. (supra) (312 ITR 254) was whether the additional liability arising on account of fluctuation in the rate of exchange in respect of loans taken for revenue purposes could be allowed as a deduction u/s 37(1) in the year of fluc…

Mi Overseas Ltd., Mumbai vs. ADIT, Dehradun

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

ITA 5584/DEL/2013[2010-11]Status: DisposedITAT Dehradun08 Jun 2021AY 2010-11

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Thakur Singh Mapwal, JCIT DR
Section 263Section 44BSection 9

…ed from the services. With respect to the argument of the learned authorised representative that goods cannot be included for the purpose of Section 44 BB of the income tax act, it was submitted that the honourable Supreme Court in case of ONGC Ltd versus CIT 376 ITR 306 has held that the Pith & substance of each of the contract and agreement is required to be seen and if it is inextricably connected with the prospecting and extraction and production of mineral oil same should be considered for the provisions of Section 44 BB of the income tax act. It was further stated that the dominant purpose for each of the a…

Mi Overseas Ltd., Mumbai vs. ADIT, Dehradun

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

ITA 5583/DEL/2013[2007-08]Status: DisposedITAT Dehradun08 Jun 2021AY 2007-08

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Thakur Singh Mapwal, JCIT DR
Section 263Section 44BSection 9

…ed from the services. With respect to the argument of the learned authorised representative that goods cannot be included for the purpose of Section 44 BB of the income tax act, it was submitted that the honourable Supreme Court in case of ONGC Ltd versus CIT 376 ITR 306 has held that the Pith & substance of each of the contract and agreement is required to be seen and if it is inextricably connected with the prospecting and extraction and production of mineral oil same should be considered for the provisions of Section 44 BB of the income tax act. It was further stated that the dominant purpose for each of the a…

ADIT (International Taxation), Dehradun vs. M/S. M.I, Overseas Ltd., Mumbai

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

ITA 5565/DEL/2013[2010-11]Status: DisposedITAT Dehradun08 Jun 2021AY 2010-11

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Thakur Singh Mapwal, JCIT DR
Section 263Section 44BSection 9

…ed from the services. With respect to the argument of the learned authorised representative that goods cannot be included for the purpose of Section 44 BB of the income tax act, it was submitted that the honourable Supreme Court in case of ONGC Ltd versus CIT 376 ITR 306 has held that the Pith & substance of each of the contract and agreement is required to be seen and if it is inextricably connected with the prospecting and extraction and production of mineral oil same should be considered for the provisions of Section 44 BB of the income tax act. It was further stated that the dominant purpose for each of the a…

ADIT (International Taxation), Dehradun vs. M/S. M.I, Overseas Ltd., Mumbai

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

ITA 5564/DEL/2013[2007-08]Status: DisposedITAT Dehradun08 Jun 2021AY 2007-08

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Thakur Singh Mapwal, JCIT DR
Section 263Section 44BSection 9

…ed from the services. With respect to the argument of the learned authorised representative that goods cannot be included for the purpose of Section 44 BB of the income tax act, it was submitted that the honourable Supreme Court in case of ONGC Ltd versus CIT 376 ITR 306 has held that the Pith & substance of each of the contract and agreement is required to be seen and if it is inextricably connected with the prospecting and extraction and production of mineral oil same should be considered for the provisions of Section 44 BB of the income tax act. It was further stated that the dominant purpose for each of the a…

ADIT, Dehradun vs. M/S. M.I. Overseas Ltd., Noida

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

ITA 3045/DEL/2013[2006-07]Status: DisposedITAT Dehradun08 Jun 2021AY 2006-07

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Thakur Singh Mapwal, JCIT DR
Section 263Section 44BSection 9

…ed from the services. With respect to the argument of the learned authorised representative that goods cannot be included for the purpose of Section 44 BB of the income tax act, it was submitted that the honourable Supreme Court in case of ONGC Ltd versus CIT 376 ITR 306 has held that the Pith & substance of each of the contract and agreement is required to be seen and if it is inextricably connected with the prospecting and extraction and production of mineral oil same should be considered for the provisions of Section 44 BB of the income tax act. It was further stated that the dominant purpose for each of the a…

Mi Overseas Ltd., Mumbai vs. ADIT, Dehradun

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

ITA 2956/DEL/2013[2006-07]Status: DisposedITAT Dehradun08 Jun 2021AY 2006-07

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Thakur Singh Mapwal, JCIT DR
Section 263Section 44BSection 9

…ed from the services. With respect to the argument of the learned authorised representative that goods cannot be included for the purpose of Section 44 BB of the income tax act, it was submitted that the honourable Supreme Court in case of ONGC Ltd versus CIT 376 ITR 306 has held that the Pith & substance of each of the contract and agreement is required to be seen and if it is inextricably connected with the prospecting and extraction and production of mineral oil same should be considered for the provisions of Section 44 BB of the income tax act. It was further stated that the dominant purpose for each of the a…

Mi Overseas Ltd., New Delhi vs. ADIT, Dehradun

In the result ITA number 5584/Del/2013 filed by the assessee for assessment year

ITA 3072/DEL/2012[2009-10]Status: DisposedITAT Dehradun08 Jun 2021AY 2009-10

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishi

For Appellant: Shri Ajay Vohra, Sr. AdvFor Respondent: Shri Thakur Singh Mapwal, JCIT DR
Section 263Section 44BSection 9

…ed from the services. With respect to the argument of the learned authorised representative that goods cannot be included for the purpose of Section 44 BB of the income tax act, it was submitted that the honourable Supreme Court in case of ONGC Ltd versus CIT 376 ITR 306 has held that the Pith & substance of each of the contract and agreement is required to be seen and if it is inextricably connected with the prospecting and extraction and production of mineral oil same should be considered for the provisions of Section 44 BB of the income tax act. It was further stated that the dominant purpose for each of the a…

Asian Oilfield Service Ltd., Baroda vs. The Dy.CIT., Circle-1(1), Baroda

In the result, appeal of the assessee for the A

ITA 144/AHD/2013[2009-10]Status: DisposedITAT Ahmedabad17 Feb 2021AY 2009-10

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Ble&

For Appellant: Shri Dharmesh ShahFor Respondent: Shri Brajendra Kumar
Section 143(3)

…nd its user is similar to those equipments which are owned by the mineral oil concerns and eligible for depreciation under the aforesaid entry. In this connection, the assessee relied on the decision in the case of Oil and Natural Gas Corporation Ltd. v. CIT [376 ITR 306 (SC)] wherein the Hon'ble Supreme Court had referred to and recognized the activity of "Drilling of exploration wells and carrying out seismic surveys for exploratory drilling" as inextricably connected with prospecting, extraction or production of mineral oil. Ld. Counsel for the 31 ITA.No. 144/AHD/2013 (A.Y: 2009-10) Asian Oilfield Services Lim…

Asian Oilfield Services Ltd., Baroda vs. The Dy.CIT., Circle-1(1), Baroda

In the result, appeal of the assessee for the A

ITA 1266/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad17 Feb 2021AY 2008-09

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Ble&

For Appellant: Shri Dharmesh ShahFor Respondent: Shri Brajendra Kumar
Section 143(3)

…nd its user is similar to those equipments which are owned by the mineral oil concerns and eligible for depreciation under the aforesaid entry. In this connection, the assessee relied on the decision in the case of Oil and Natural Gas Corporation Ltd. v. CIT [376 ITR 306 (SC)] wherein the Hon'ble Supreme Court had referred to and recognized the activity of "Drilling of exploration wells and carrying out seismic surveys for exploratory drilling" as inextricably connected with prospecting, extraction or production of mineral oil. Ld. Counsel for the 31 ITA.No. 144/AHD/2013 (A.Y: 2009-10) Asian Oilfield Services Lim…

M/S Selan Exploration Technology Ltd., New Delhi vs. CIT(A), New Delhi

ITA 1686/DEL/2017[2016-17]Status: DisposedITAT Delhi17 Feb 2021AY 2016-17

Bench: Shri R.K. Panda & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri K.V.S.R. Krishna, CAFor Respondent: Shri Prakash Dubey, Senior DR
Section 115ASection 44B

…rders passed by the revenue authorities below in the light of the facts and circumstances of the case. 5. Ld. AR for the assessee by relying upon the decision rendered by Hon’ble Supreme Court in case of as Oil & Natural Gas Corporation Ltd. vs. CIT - (2015) 376 ITR 306 (SC) contended that services rendered by M/s. ESG Solutions are not in the nature of technical services to be covered u/s 115A of the Act rather these are covered u/s 44BB of the Act being inextricably connected with exploration and extraction of crude petroleum. However, on the other hand, ld. DR for the Revenue relied upon the order passed by…

Principal Commissioner of Income Tax-4, Kolkata vs. Hindustan Gum and Chemicals Ltd

ITAT/40/2020HC Calcutta13 Jan 2021

Bench: HON'BLE JUSTICE RAJESH BINDAL, CHIEF JUSTICE (ACTING),HON'BLE JUSTICE ANIRUDDHA ROY

Section 14ASection 32(1)(ii)Section 37(1)

…ts earlier order passed in the case of assessee for the earlier assessment year, which had attained finality, keeping in view of the judgments of the Hon’ble Supreme Court in the case of CIT vs. Woodward Governor India (P) Ltd. (312 ITR 254) and ONGC vs. CIT (322 ITR 180) 5. If aforesaid questions of law are not entertained, the learned Counsel for Revenue fairly submits that tax effect relating to question Nos. 3 and 4 would be less than Rs.1 crore. In view of the circular No.17/2019 F.No.279/Misc.142/2007-ITJ(Pt.) dated August 8, 2019 issued by Government of India, Ministry of Finance, Departm…

Bg International Limited, Mumbai vs. The Deputy Commissioner of Income Tax, DDIT/ADIT(International Taxation), Circle-1, Dehradun

In the result the appeal filed by the assessee is partly allowed and stay application filed by the assessee is dismissed

ITA 31/DDN/2020[2017-18]Status: DisposedITAT Dehradun31 Dec 2020AY 2017-18

Bench: Shri R.K. Panda & Ms Suchitra Kambleasstt. Year 2017-18

For Appellant: Shri Ajay Vohra,Sr. AdvocateFor Respondent: Shri A.S. Rana, Sr. DR
Section 143(3)

…see that the income was to be computed u/s 44BB of the Act. 16. We find that the similar issue arose in the case of the assessee starting from Assessment Year 2003-04 onwards. The Hon'ble Supreme Court in the Oil 85 Natural Gas Corporation Ltd. vs CIT [2015] 376 ITR 306 (SC) has held that the services rendered in connection with extraction and production of mineral oil was taxable u/s 44BB of the Act. In such scenario, the income in the hands of the assessee is to be computed by 13 Stay No. 14/DDN/2020 applying the provisions of section 44BB of the Act. We find that the Tribunal in earlier years have accordingl…

Principal Commissioner of Income Tax, Kolkata-5, Kolkata vs. M/S Merlin Resources Private Limited

ITA/40/2020HC Calcutta10 Dec 2020

Bench: HON'BLE JUSTICE I. P. MUKERJI,HON'BLE JUSTICE MD. NIZAMUDDIN

Section 14ASection 32(1)(ii)Section 37(1)

…ts earlier order passed in the case of assessee for the earlier assessment year, which had attained finality, keeping in view of the judgments of the Hon’ble Supreme Court in the case of CIT vs. Woodward Governor India (P) Ltd. (312 ITR 254) and ONGC vs. CIT (322 ITR 180) 5. If aforesaid questions of law are not entertained, the learned Counsel for Revenue fairly submits that tax effect relating to question Nos. 3 and 4 would be less than Rs.1 crore. In view of the circular No.17/2019 F.No.279/Misc.142/2007-ITJ(Pt.) dated August 8, 2019 issued by Government of India, Ministry of Finance, Departm…

High Energy Batteries India Ltd, Chennai vs. ITO Corporate Ward 2 (3), Chennai

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 1258/CHNY/2018[2012-13]Status: DisposedITAT Chennai04 Dec 2020AY 2012-13

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunathaआयकर अपील सं./I.T.A. No. 1258/Chny/2018 िनधा"रण वष"/Assessment Year: 2012-13 High Energy Batteries India Ltd., The Income Tax Officer, No. 13, Esvin House, Old Vs. Corporate Ward 2(3), Mahabalipuram Road, 121, Mahatma Gandhi Road, Chennai 600 096. Chennai 600 034. [Pan:Aaach1479H] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri G. Baskar, Advocate ""थ" की ओर से/Respondent By : Shri Ar.V. Sreenivasan, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 22.10.2020 घोषणा की तारीख /Date Of Pronouncement : 04.12.2020 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 6, Chennai, Dated 30.01.2018 Relevant To The Assessment Year 2012-13. The Assessee Has Raised The Following Grounds: 1.1 The Commissioner Of Income Tax (Appeals) Erred In Confirming The Action Of The Ao In Allowing Only Depreciation @15% On Bolero Van As Against The Claim By The Appellant That It Should Be Totally Allowed As An Expenditure. 1.2 The Commissioner Of Income Tax (Appeals) Failed To Note That Since The Vehicle Is Being Used For Research & Development Its Entire Cost Is Entitled For 100% Deduction U/S.35(1)(Iv) Of The Income Tax Act.

For Appellant: Shri G. Baskar, AdvocateFor Respondent: Shri AR.V. Sreenivasan, Addl. CIT
Section 143(1)Section 143(3)Section 14ASection 35(1)(iv)

…ign exchange fluctuation in foreign currency transactions on revenue item as on the last date of the accounting year is deductible. 5.4 Similar issue was further considered by the Hon’ble Supreme Court in the case of Oil & Natural Gas Corporation Ltd. v. CIT 322 ITR 180. In this case, the assessee a public sector undertaking was engaged in the capital intensive exploration and production of petroleum products for which it had to heavily depend on foreign loans to cover its expenses, both capital and revenue and for payment to non-resident contractors in foreign currency for various services rendered. The assesse…