Income earned by a non-resident by providing offshore service vessels on time charter basis is covered under Section 44BB

Bourbon Offshore Asia Pvt. Ltd. Vs DIT (AAR No. 937 of 2010) dated 12 July 2011- The taxpayer is engaged in the business of providing offshore oil and gas marine sub sea services. It also offers range of offshore oil service vessels to global oil and gas industry. Under the contract with Trans ocean Offshore International Ventures Ltd., who in turn is providing various offshore drilling and support services to ONGC, the tax payer has provided four vessels to TOIVL to be used on the east and west coast of India

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