Section 13
Miscellaneous receipts
of Petroleum (Income Tax) Act 1967
Where in the relevant period the relevant chargeable person derives receipts of a revenue nature incidental to and arising from any one or more of his petroleum operations (other than activities mentioned in sections 7, 8, 9 and 10) the receipts shall be treated as gross income of that chargeable person for that period.
(2)
Subject to this Act, where in the relevant period the relevant chargeable person receives in relation to the petroleum operations sums by way of—
(a)
insurance, indemnity, recoupment, recovery, reimbursement or otherwise—
Petroleum (Income Tax)
(i)
where such sums are in respect of the kind of outgoings and expenses deductible in ascertaining the adjusted income of that relevant chargeable person from the petroleum operations; or
(ii)
under a contract of indemnity; and
(b)
compensation for loss of income from the petroleum operations, the receipts shall be treated as gross income of that relevant chargeable person for that relevant period.
Receipts from disposal of assets vesting in Petroliam Nasional