https://www.taxtmi.com/caselaws?id=333865 The Tribunal allowed the appeal in part. It ruled that service tax collected should not be included in presumptive income under Section 44B of the Income Tax Act. The Tribunal directed the tax authorities to rectify short credits for Advance Tax and TDS. The charges of interest under Sections 234C and 234D were upheld but required reevaluation. The challenge to the initiation of penalty proceedings under Section 271(1)(c) was dismissed as premature. en-us Fri, 02 Sep 2016 00:00:00 +0530 Wed, 26 Oct 2016 09:48:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333865 The Tribunal allowed the appeal in part. It ruled that service tax collected should not be included in presumptive income under Section 44B of the Income Tax Act. The Tribunal directed the tax authorities to rectify short credits for Advance Tax and TDS. The charges of interest under Sections 234C and 234D were upheld but required reevaluation. The challenge to the initiation of penalty proceedings under Section 271(1)(c) was dismissed as premature. Case-Laws Income Tax Fri, 02 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333865