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of <h1>Supreme Court Rules on Commission Agent's Business Receipts</h1> <h3>Jonnalla Narashimharao And Co. And Others Versus Commissioner of Income-Tax</h3> Jonnalla Narashimharao And Co. And Others Versus Commissioner of Income-Tax - [1993] 200 ITR 588 (SC) The Supreme Court allowed the appeals in part, answering one question in favor of the Revenue and the other against the Department. The assessee, a commission agent in jaggery, collected amounts under the name 'rusum' for sales tax disputed during the accounting year. The Court held that the collection constitutes business receipt and is deductible as an expenditure for the assessment year 1968-69. The High Court's answer on question No. 2 was set aside.
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