https://www.taxtmi.com/caselaws?id=429961 The HC upheld the decision of the Income Tax Appellate Tribunal, ruling that service tax collected by assessees providing services related to mineral oil prospecting, extraction, or production should not be included in the presumptive taxable income under Section 44 BB of the Income Tax Act. The Court agreed with the Full Bench's interpretation that service tax is not a payment for services and should not be part of the gross income computation. The appeals by the appellant-Department were dismissed, affirming that the Full Bench's decision was final and did not require further reconsideration. en-us Wed, 02 Nov 2022 00:00:00 +0530 Wed, 25 Oct 2023 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429961 The HC upheld the decision of the Income Tax Appellate Tribunal, ruling that service tax collected by assessees providing services related to mineral oil prospecting, extraction, or production should not be included in the presumptive taxable income under Section 44 BB of the Income Tax Act. The Court agreed with the Full Bench's interpretation that service tax is not a payment for services and should not be part of the gross income computation. The appeals by the appellant-Department were dismissed, affirming that the Full Bench's decision was final and did not require further reconsideration. Case-Laws Income Tax Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429961