Leasing or hiring of Rigs are taxable as business profit u/s. 44BB of Income Tax Act

UMW Sher (L) Ltd. Vs Assessing Officer (ITAT Delhi)

ITAT Delhi held that receipts from leasing/ hiring of Rigs are taxable as business profit under section 44BB of the Income Tax Act. Such receipts are not in the nature of royalty and hence cannot be taxed under section 9(1)(vi)

Please become a Premium member. If you are already a Premium member, login here to access the full content.