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2012 (10) TMI 1085 - AT - Income TaxExtract: .......tax is a statutory liability which does not involve any element of profit and, therefore, cannot be included in the total receipts for determining presumptive income under section 44BB. Therefore, assessee's appeal is allowed on the issue raised before us. 9. In the result, appeal is allowed. Pronounced in the open court on 31st October, 2012 .
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