Receipts from prospecting for, or extraction, or production of mineral oils taxable u/s 44BB

Cameron (Singapore) Pte. Ltd. Vs DCIT (ITAT Delhi)

ITAT Delhi held that scope and ambit of section 44BB of the Income tax Act is wide enough to include receipts of assessee from Cairn India and ONGC in connection with activity of prospecting for, or extraction, or production of mineral oils.

Facts- The assessee is a non-resident corporate entity incorporated under the laws of Singapore and a tax resident of Singapore. The assessee has challenged the decisions of the depart

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