https://www.taxtmi.com/caselaws?id=62686 Royalty collected from customers in the course of brick sales was treated as part of the sale price and therefore as a trading receipt forming revenue income. Separate disclosure on invoices did not change its character, and the plea that the amount was merely held in trust for customers was unsupported. On timing, the collections had been made in earlier years and no prior deduction had been allowed, so section 41(1) could not be used to tax the amount in the later assessment year. The addition was deleted for the year under appeal, with taxability, if any, confined to the years of collection. en-us Sat, 15 Dec 1979 00:00:00 +0530 Fri, 21 Jan 2011 11:23:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62686 Royalty collected from customers in the course of brick sales was treated as part of the sale price and therefore as a trading receipt forming revenue income. Separate disclosure on invoices did not change its character, and the plea that the amount was merely held in trust for customers was unsupported. On timing, the collections had been made in earlier years and no prior deduction had been allowed, so section 41(1) could not be used to tax the amount in the later assessment year. The addition was deleted for the year under appeal, with taxability, if any, confined to the years of collection. Case-Laws Income Tax Sat, 15 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62686