Service Tax Not Included in Gross Receipts for Presumptive Income (Sec. 44BBA): Kolkata ITAT

Cathay Pacific airways Limited Vs ACIT (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT) Kolkata, in a series of appeals by Cathay Pacific Airways Limited against the orders of the Commissioner of Income Tax (Appeals), addressed a significant issue concerning the computation of presumptive income under Section 44BBA of the Income-tax Act, 1961. The core question was whether service tax collected by the assessee forms part of the gross receipts for calculating total income on a presumptive basis. Background and Facts of the Case Cathay Pacific Airways Limited, a non-resident company engag...