https://www.taxtmi.com/caselaws?id=767880 ITAT Mumbai ruled that GST collected as a separate line item in invoices cannot be included in gross receipts for computing presumptive income under Section 44BB. Following precedents from Orient Overseas Container Line Limited and Seadrill International Ltd, the tribunal held that GST being a statutory levy must be excluded from gross receipts calculation. The Assessing Officer was directed to exclude GST amounts when computing the assessee's gross receipts under Section 44BB. The assessee's appeal was allowed on this ground. en-us Fri, 21 Mar 2025 00:00:00 +0530 Thu, 27 Mar 2025 08:36:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767880 ITAT Mumbai ruled that GST collected as a separate line item in invoices cannot be included in gross receipts for computing presumptive income under Section 44BB. Following precedents from Orient Overseas Container Line Limited and Seadrill International Ltd, the tribunal held that GST being a statutory levy must be excluded from gross receipts calculation. The Assessing Officer was directed to exclude GST amounts when computing the assessee's gross receipts under Section 44BB. The assessee's appeal was allowed on this ground. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767880