Supreme Court · 2010 INSC 444 · Decided 28 July 2010
M/S. Sumitomo Heavy Industries Limited v. Oil & Natural Gas Company
- Court
- Supreme Court of India
- Citation
- 2010 INSC 444 · [2010] 9 S.C.R. 176
- Case number
- CIVIL APPEAL No. 3185/2002
- Decided
- 28 July 2010
- Bench
- R.V. RAVEENDRAN, H.L. GOKHALE (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 44BB
Headnote
Arbitration: International commercial contract - Works contract between respondent and contractor - Respondent C agreed to compensate contractor for all necessary and reasonable extra cost caused by a change in law affecting the contractor economically - Contractor entered into a sub­ for a part of a contract - Under the existing law, the income arising out of the work done was D not subject to income tax in India - Change in law after closing of bid - Under the amended law, the work done under the tender and the income arising therefrom became subject to Income Tax
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