Oil Fields (Development and Regulation) Act 1948

9th Jul, 2015

Agreements to pass through test of pith and substance to determine its dominant purpose and consequent tax chargeability #Indianlaws

The question before the Supreme Court was “whether the amounts paid by  ONGC to the non-resident assessees /foreign companies for providing various services in connection with prospecting, extraction or production of mineral oil is chargeable […]