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2007 (10) TMI 219 - HC - Income TaxPresumptive tax - Amount received by the non-resident company as reimbursement on account of supply of spare parts are to be included in the contract receipts for computing taxable profit u/s 44BB - amount received by the assessee on account of supply of spare parts is squarely covered under section 44BB – AO was justified in taking into account the total amount received by assessee for determining the profit & gains & imposing 10% tax u/s 44BB(1) – revenue appeal allowed
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