Amount Received as Reimbursement of Service Tax not Includible in Gross Turnover for Purpose of Computing Taxable Income u/s 44BB of Income Tax Act: ITAT [Read Order]

By Kalyani B. Nair - On June 30, 2023 10:30 am - 2 mins read

Amount Received - Reimbursement - Service Tax - Reimbursement of Service Tax - Gross Turnover - Computing Taxable Income - Taxable Income - Taxable - Income Tax Act - taxscan

The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT), ruled that the amount received as reimbursement of service tax not includible in gross turnover for purpose of computing taxable income under Section 44BB of the Income Tax Act, 1961. On account of difference of opinion between the Accountant Member and Judicial Member of…

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