B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN, UTTARAKHAND

In the result, both the appeals of the assessee are allowed

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

13: Disallowance of amount under section 40(a) 13.1 The learned AO / DRP erred in law and in facts in disallowing amount of Rs. 10,28,82,922 being the difference between the amount reflected in the tax audit report and considered by the Appellant in its computation of income. Ground No. 14: Disallowance of interest incurred on loan taken

B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN

In the result, both the appeals of the assessee are allowed

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

13: Disallowance of amount under section 40(a) 13.1 The learned AO / DRP erred in law and in facts in disallowing amount of Rs. 10,28,82,922 being the difference between the amount reflected in the tax audit report and considered by the Appellant in its computation of income. Ground No. 14: Disallowance of interest incurred on loan taken

MB PETROLEUM SERVICES LLC,MUMBAI vs. DDIT, DEHRADUN

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

Bench: Shri Saktijit Dey & Shri M. Balaganeshmb Petroleum Services Llc, Vs. Ddit, Kirtane & Pandit, H-16, Circle-1, Saraswati Colony, Sitaldevi International Taxation, Temple Road, Mahim, Dehradun Mumbai (Appellant) (Respondent) Pan: Aaecm2604H

depreciation to the Appellant under section 32 of the Act in accordance with law.” 4. We have heard the rival submissions and perused the materials available on record. At the outset, we find that the additional ground of appeal raised by the assessee is a legal issue and does not require verification of any facts. Hence, it is admitted

BG EXPLORATION & PRODUCTION INDIA 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 for statistical purposes

13) by the AO for the assessment year 2017-18. 2. Facts of the case, in brief, are that the assessee (BGEPIL) is a non-resident company incorporated in the Cayman Islands with limited liability and is engaged in the business of exploration & extraction of mineral oils consequent upon Production Sharing Contracts (PSC) signed with the Government of India