https://www.taxtmi.com/caselaws?id=272227 The Tribunal upheld the inclusion of service tax in gross receipts for determining taxable income under Section 44B of the Income Tax Act, dismissing the assessee's appeal for the assessment year 2010-11. The service tax collected was deemed part of the aggregate amount specified in the section for computing profits and gains of the shipping business, following precedent and reasoning that service tax, although collected on behalf of the government, is incidental to the business and should be considered part of gross receipts. The Tribunal's decision aligned with its earlier ruling in the assessee's case for the assessment year 2007-08. en-us Fri, 22 Jan 2016 00:00:00 +0530 Wed, 02 Mar 2016 08:41:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272227 The Tribunal upheld the inclusion of service tax in gross receipts for determining taxable income under Section 44B of the Income Tax Act, dismissing the assessee's appeal for the assessment year 2010-11. The service tax collected was deemed part of the aggregate amount specified in the section for computing profits and gains of the shipping business, following precedent and reasoning that service tax, although collected on behalf of the government, is incidental to the business and should be considered part of gross receipts. The Tribunal's decision aligned with its earlier ruling in the assessee's case for the assessment year 2007-08. Case-Laws Income Tax Fri, 22 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272227