https://www.taxtmi.com/caselaws?id=272334 The tribunal dismissed the revenue's appeal, upholding the CIT(A)'s order that service tax receipts are not to be included in gross revenue for profit computation under Section 44BB of the Income Tax Act, 1961. The decision was based on precedents favoring the assessee, emphasizing that service tax collected is not income but a statutory levy for the government. CBDT Circulars also supported excluding service tax from gross receipts for tax purposes. en-us Mon, 29 Feb 2016 00:00:00 +0530 Sat, 05 Mar 2016 10:45:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272334 The tribunal dismissed the revenue's appeal, upholding the CIT(A)'s order that service tax receipts are not to be included in gross revenue for profit computation under Section 44BB of the Income Tax Act, 1961. The decision was based on precedents favoring the assessee, emphasizing that service tax collected is not income but a statutory levy for the government. CBDT Circulars also supported excluding service tax from gross receipts for tax purposes. Case-Laws Income Tax Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272334