DCIT (INTERNATIONAL TAXATION),CIRCLE-I, DEHRADUN vs. HALLIBURTON OFFSHORE SERVICES INC., DEHRADUN

Bench: Sh. Satbeer Singh Godara & Sh. M. Balaganesh

depreciation on capital assets to the extent of 90% of gross revenue. (ix) Whether the CIT (A) has erred in not appreciating the fact that the amount received by the assessee on account of equipment lost in hole’ is infact the reimbursement of expenses and hence includible in the gross revenue for the purpose of computation of profits

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

36,20,743/- (for material and others in respect of Petrogas contract). c) Rs. 2,53,99,401/- ( for services contract under well test division of ONGC Contract). 8. The ld AO concluded that the services performed under both the contracts are in the nature of Fees For Technical Services (FTS) as defined u/s 9(1)(vii

DCIT (INTERNATIONAL TAXATION), DEHRADUN vs. M/S. SAMSUNG HEAVY INDUSTRIES CO. LTD., GURGAON

In the result, appeal of the assessee in ITA No

VII (Revised) and the accounts have been prepared on the basis of completion method. The percentage of completion is determined as a proportion of cost incurred upto the date of each accounting period to the total estimated cost. The provision is made for foreseeable losses when current estimate of total contract cost and revenues indicate a loss. The assessee

SAMSUNG HEAVY INDUSTRIES CO. LTD.,GURGAON vs. DCIT (INTERNATIONAL TAXATION), DEHRADUN

In the result, appeal of the assessee in ITA No

VII (Revised) and the accounts have been prepared on the basis of completion method. The percentage of completion is determined as a proportion of cost incurred upto the date of each accounting period to the total estimated cost. The provision is made for foreseeable losses when current estimate of total contract cost and revenues indicate a loss. The assessee