Section 44BBB in The Income Tax Act, 1961
44BBB. [ Special provision for computing profits and gains of foreign companies engaged in the business of civil ... renumbered as sub-Section (1) thereof and sub-Section (2) inserted by Act 32 of 2003, Section 26 (w.e.f. 1.4.2004).] [Notwithstanding anything
could not be brought to tax under Section 44BBB in the asst. yr. 1994-95 as Section 44BBB does not contemplate a consolidation ... received or becoming payable subsequent to the section coming into effect would be taxed under Section 44BBB . At this juncture, the Bench asked him whether
section 44BB . The order of the
Tribunal, therefore, applies also to Sections 44BBB . The non-obstante clause
with which Section 44BBB starts only supercedes Sections ... u/s 44BBB . There is
also no dispute to the fact that the provisions of section 44BBB are pari materia
with the provisions of section
India and should be part of the income offered to tax under section 44BBB of the
Act. The AO though made note of the fact ... sections 28 to 44AA and those sections deals with computation
of profits and gains of business of profession.
14.5 Further, Section 44BBB applies
herein that the assessee had deducted tax at 2%. The foreign company had paid tax under Section 44BBB at 4.8% and sought for a refund ... find out whether the foreign company had already remitted the tax as per Section 44BBB .
13. It is a matter of record that the foreign
respect of 3
offshore Service Contracts,the assessee has paid
taxes under Section 44BBB of the I.T.Act. In respect
of offshore Supply Contracts ... from offshore Services contracts
are covered by provisions of section 44BBB of the
Income Tax Act.
b) Receipts from Offshore Supply contracts
are also covered
fulfilled and since the entire income relates to previous year, tax under Section 44BBB would have to be paid at this stage. He further submitted ... projects.
The new section 44BBB provides that, notwithstanding anything to the contrary contained in sections 28 to 44AA of the Income-tax Act, the income
offered its income from the Anpara Power Project to tax
under Section 44BBB of the Act by taking the profit at 10% of the entire ... profits of the
DESU Power Project in terms of Section 44BBB of the Act, the CIT (A)
observed
herein that the assessee had deducted tax at 2%. The foreign company had paid tax under Section 44BBB at 4.8% and sought for a refund ... find out whether the foreign company had already remitted the tax as per Section 44BBB .
13. It is a matter of record that the foreign
tax Act
9.1 DTAA does not impose tax. Tax is imposed under the provisions
of domestic tax law. Under the scheme of Income-tax ... income need to be dealt only
as per the section 44BBB of the Act. Section 44BBB of the Act is a
special code by itself
