FUGRO GEOTEAM Vs. ADDITIONAL DIRECTOR OF INCOME-TAX

JUDGEMENT

(1.) The appeal has been filed under Section 260A of the Income-Tax Act, 1961 (hereinafter referred to as 'the Act'). The assessee is foreign company incorporated under the laws of Norway. It is engaged in the activities relating to acquisition of 3D sesismic data under contracts with Reliance Industries Ltd. and ONGC. The relevant assessment year is 2008-2009. The return of income was filed on 28.11.2008 declaring income of Rs. 18,27,42,870/- from contract receipt under Section 44BB of the Act. It was selected for scrutiny. The assessee's claim for being taxed under Section 44BB was rejected and its income has been taxed as fees from technical services. Appellant/assessee moved an objection before the Dispute Resolution Panel. The Panel affirmed the view taken by the assessee. Assessee filed an appeal. After the matter received the attention at the hands of the Income Tax Appellate Tribunal and the contention of the appellant not being accepted, appellant is before us.

(2.) We have heard learned counsel for the appellant and also learned counsel for the Department.

(3.) The questions of law, which have been raised, are as follows:-