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ITAT Mumbai Rules on Offshore Drilling Taxation: “Taxation must follow the actual situs of income, not mere contractual possibilities” Deletes ₹16.62 Crore Disallowance for Mobilization Fees Paid Abroad
Court’s Decision The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, dismissed the Revenue’s appeal challenging the Commissioner of Income Tax (Appeals) [CIT(A)]’s order deleting a ₹16,62,79,849 disallowance made under Section…
