Applicability of section 44BB of the IT Act on mobilization/ demolization charges received by a non-resident foreign company

RELEVANT PARAGRAPH 4. Brief facts of the case giving rise to this appeal are that assessee, a non-resident foreign company, engaged in the business of providing services in connection with extraction and production of mineral oils, submitted its return of income declaring income at Rs. 2,11,79,270/ – for the Assessment Year 1999-2000. The case was processed under Section 143(1) of the Income Tax Act by the Assessing Officer, who issued notices under Section 143(2) of the Act to the assessee as to why not the reimbursement charges received by the assessee from Enron Oil and Gas India Lim...