https://www.taxtmi.com/caselaws?id=338057 The tribunal upheld the inclusion of service tax in gross receipts for determining presumptive income under Section 44B of the Income Tax Act, dismissing the assessee's argument that service tax should not be considered part of gross receipts. The tribunal emphasized that service tax forms part of the aggregate amounts specified under Section 44B and should be included in determining presumptive profit. Additionally, the tribunal found the challenge to the initiation of penalty proceedings premature and not maintainable, ultimately dismissing the appeal for the year in question. en-us Fri, 20 Jan 2017 00:00:00 +0530 Tue, 24 Jan 2017 08:35:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338057 The tribunal upheld the inclusion of service tax in gross receipts for determining presumptive income under Section 44B of the Income Tax Act, dismissing the assessee's argument that service tax should not be considered part of gross receipts. The tribunal emphasized that service tax forms part of the aggregate amounts specified under Section 44B and should be included in determining presumptive profit. Additionally, the tribunal found the challenge to the initiation of penalty proceedings premature and not maintainable, ultimately dismissing the appeal for the year in question. Case-Laws Income Tax Fri, 20 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338057