‘Second leg contract’ cannot be denied applicability of section 44BB

DDIT Vs Louis Dreyfus Armateures SASn (LDA) (ITAT Delhi)

The assessee is a company incorporated under the laws of France and has earned revenues from providing seismic survey vessels on hire to M/s. CGG Marine, a French company, under a global time charter contracts for use in seismic data acquisition and on board processing for prospecting, extraction and production of mineral oils in terms of contract with ONGC. The assessee has offered the gross revenue of Rs.15,81,38,210/- earned from hire of the above vessels for taxati

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