Case Law Details
Case Name : G&T Resources (Europe) Ltd Vs DDIT (ITAT Delhi)
Related Assessment Year : 2007-08
Courts :
All ITAT ITAT Delhi
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G&T Resources (Europe) Ltd. v. DDIT (ITAT Delhi)- The receipts for supply of spare parts used in prospecting for, or extraction or production of mineral oils in the turnkey contract are eligible for presumptive taxation under section 44BB of the Income Tax Act, 1961. It may be noted on the facts of the present case, the supply of spare parts was indivisible part of the entire repair/ revamp contract.
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH: C: NEW DELHI
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