#INCOMETAXACT #SECTION44BB #SECTION28 #SECTION41 #SECTION43 #PROFITS #GAINS #EXPLORATION #MINERALOILS Despite anything to the contrary in sections 28 to 41 and sections 43 and 43A, in the case of an assessee 47, being a non-resident, engaged in the business of offering services or facilities in connection with, or supplying plant and machinery on hire used, or to be used, in the prospecting for, extraction from, or production of, mineral oils, a sum equal to 10% of the total

#Section41 #IncomeTax #Profits #Tax #Charges (1) Where a loss, expense, or trading liability incurred by the assessee (hereinafter referred to as the first-mentioned person) and later during any previous year has been allowed for or deducted from the assessment for any year, (a) The amount obtained by the first-mentioned person or the value of the benefit accruing to him shall be deemed to be profits and gains of business or profession and, accordingly, chargeable to income-t