Oilfield service company – whether an industrial undertaking/ mineral oil concern

HLS India Ltd. (2011) 11 taxmann.com 83 (Delhi) Facts – The taxpayer, HLS India Ltd. (now known as HLS Asia Ltd.) is an Indian company engaged in the business of providing oilfield services to upstream companies. The taxpayer entered into a contract with Oil India Ltd. (OIL) and ONGC to provide wire line logging and perforation services. The wireline logging services are used at the time of exploration and development of wells and perforating  services are used at the development stage. The wire line logging and perforation equipments/ tools (“logging tools”) are used for providing the...