https://www.taxtmi.com/caselaws?id=62580 Sales-tax collected in the course of business is treated as a trading receipt, and its accounting treatment does not alter that character; the corresponding liability then falls to be considered under section 43B, with the proviso inapplicable for the relevant years. Shelf-space expenditure may be apportioned between storage/protection and sales promotion, so only the sales-promotion element is subject to disallowance under section 37(3A). Section 40A(6) applies only to payment made to the former employee himself, not to a separate incorporated company absent proof of sham or benami arrangement. Overheads for an eligible industrial unit may be allocated on a reasonable basis for section 80-I computation, and advance surtax is not deductible in business income under the prevailing authorities. en-us Wed, 29 Mar 1995 00:00:00 +0530 Thu, 20 Jan 2011 15:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62580 Sales-tax collected in the course of business is treated as a trading receipt, and its accounting treatment does not alter that character; the corresponding liability then falls to be considered under section 43B, with the proviso inapplicable for the relevant years. Shelf-space expenditure may be apportioned between storage/protection and sales promotion, so only the sales-promotion element is subject to disallowance under section 37(3A). Section 40A(6) applies only to payment made to the former employee himself, not to a separate incorporated company absent proof of sham or benami arrangement. Overheads for an eligible industrial unit may be allocated on a reasonable basis for section 80-I computation, and advance surtax is not deductible in business income under the prevailing authorities. Case-Laws Income Tax Wed, 29 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62580