Thursday 21 January 2016

AAR taxes entire revenue under sec. 44BB; rejects splitting between onshore and offshore activities

Where applicant enters into contract with RIL for providing 'Floating Production storage and offloading' (FPSO) facilities, in view of fact that in terms of 'Change Order' certain amendments were carried out such as fabrication and installation of new living quarters onboard and mobilising and commissioning team of applicant, since both original contract and amendments therein by way of 'Change Order' are inextricably linked with extraction, processing, production, storing & offloading of crude

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