Service tax & reimbursement of equipment Lost in Hole not forms part of total turnover in computing income u/s 44BB

DCIT Vs Nabors Drilling International Limited (ITAT Mumbai) Service tax not forms part of total turnover in computing income u/s 44BB The issue involved in all these appeals is as to whether the ld CITA was justified in holding that the service tax component cannot be included as part of total turnover while computing income u/s 44BB(1) of the Act in the facts and circumstances of the case. ITAT find that this issue is squarely covered in favour of assessee by the decision of Hon’ble Delhi High Court in the case of DIT vs. Mitchell Drilling International Pvt. Ltd. [2016] 380 ITR 130 (Del) an...