https://www.taxtmi.com/caselaws?id=34266 HC dismissed the appeal, upholding ITAT and CIT(A) findings that reimbursement of customs duty paid by the assessee for importing machinery is statutory and does not form part of gross receipts for computing income under Section 44BB. The court found no element of profit in such reimbursements and saw no reason to interfere with the lower authorities' view, affirming that these payments are excluded from deemed profits. en-us Fri, 24 Jul 2009 00:00:00 +0530 Tue, 11 Nov 2025 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34266 HC dismissed the appeal, upholding ITAT and CIT(A) findings that reimbursement of customs duty paid by the assessee for importing machinery is statutory and does not form part of gross receipts for computing income under Section 44BB. The court found no element of profit in such reimbursements and saw no reason to interfere with the lower authorities' view, affirming that these payments are excluded from deemed profits. Case-Laws Income Tax Fri, 24 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34266