OIL & NATURAL GAS CORPORATION LIMITED vs COMMISSIONER OF INCOME TAX

Authority: Supreme Court Date: 2015-07-01 AY: 1985-86 Section: 44BB, 9(1)(vii), 293A, 115A Acts: Income Tax Act 1961, Oil Fields (Regulation and Development) Act 1948, Petroleum and Natural Gas Rules 1959, Mines Act 1952, Mines and Minerals (Regulation and Development) Act 1957, Constitution of India Result: Assessee Citation: (2015) 278 CTR 0153 (SC) : (2015) 121 DTR 0289 (SC) : (2015) 376 ITR 0306 (SC) : (2015) 233 TAXMAN 0 Justices: RANJAN GOGOI & PINAKI CHANDRA GHOSE, JJ. Appeal No: CIVIL APPEAL NO. 731 OF 2007, 729 OF 2007, 733 OF 2007, 736 OF 2007, 737 OF
Whether payments by ONGC to non-resident companies for services in connection with prospecting, extraction or production of mineral oil are chargeable as 'fees for technical services' under Section 44D read with Explanation 2 to Section 9(1)(vii) or taxable on presumptive basis under Section 44BB of the Income Tax Act --- Held: Taxable under Section 44BB.

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