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2014 (2) TMI 37 - AT - Income TaxPresumptive determination u/s 44BB of the Act - Reimbursement of actual expenses – Expenses incurred on behalf of customers to be included in gross receipts u/s 44BB of the Act or not – Held that:- The decision in Commissioner of Income Tax Vs. Halliburton Offshore Services Inc. [2007 (9) TMI 230 - UTTARAKHAND HIGH COURT] followed - all the amounts either paid or payable (whether in India or outside India) or received or deemed to be received (whether in India or outside India) are mutually inclusive - This amount is the basis of determination of deemed profits and gains of the assessee @ 10 per cent - The scheme of presumptive determination u/s 44BB of the Act has been considered and the section is a complete code in itself and provides for taxation of all receipts whether arising in India or outside - Thus, for the purpose of presumptive determination of assessee's profits, quantum of amount received by it from its customers against its reimbursement of fuel and material recharge, which are intricately linked to the services were rendered by the assessee and incurred by it, has to be considered as a part of the receipt for the purposes of computation of income u/s 44B of the Act – Decided against Assessee.
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