Service Tax Paid by Contractor for Value of Work is not Part of Gross Receipts for Purpose of Computing Presumptive Tax u/s 44AD of Income Tax Act: ITAT [Read Order]

By Aparna. M - On June 18, 2023 8:45 pm - 2 mins read
Service Tax Paid by Contractor for Value of Work is not Part of Gross Receipts - Service Tax Paid by Contractor - Service Tax - Contractor - ITAT - Taxscan

The service tax paid by the contractor for the value of the work is not included in gross receipts for the purposes of computing the assessee’s presumptive tax under Section 44AD of the Income Tax Act of 1961, according to the Kolkata bench of the Income Tax Appellate Tribunal (ITAT). The assessee Sagarkumar Ishwarbhai Bhavani…

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