High Court: Service Tax Reimbursements Excluded from Presumptive Income Calculation under Income Tax Act Sections 44BB(1) & 44BB(2.

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....Scope of of Sections 44BB(1) and 44BB(2) - computation of the ‘presumptive taxable income’ - the amount reimbursed to the assessee (service provider) by the ONGC (service recipient), representing the service tax paid earlier by the assessee to the Government of India, would not form part of the aggregate amount referred to in Clauses (a) and (b) of sub-section (2) of Section 44 BB. - HC....