https://www.taxtmi.com/caselaws?id=66658 The Tribunal ruled in favor of the assessee, deleting all disallowances related to deposits for liquor bottles. It held that the deposits were indeed part of the purchase cost of bottles, supported by trading account entries and a supplier's confirmation. Emphasizing the impracticality of separating liquor from bottles at sale, the Tribunal accepted the supplier's letter clarifying the deposits as bottle costs. The Tribunal noted the absence of an obligation to return bottles and industry practice against bottle returns, concluding that the deposits constituted the bottle costs reflected in the trading account. en-us Mon, 16 May 1988 00:00:00 +0530 Sat, 05 Mar 2011 14:06:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66658 The Tribunal ruled in favor of the assessee, deleting all disallowances related to deposits for liquor bottles. It held that the deposits were indeed part of the purchase cost of bottles, supported by trading account entries and a supplier's confirmation. Emphasizing the impracticality of separating liquor from bottles at sale, the Tribunal accepted the supplier's letter clarifying the deposits as bottle costs. The Tribunal noted the absence of an obligation to return bottles and industry practice against bottle returns, concluding that the deposits constituted the bottle costs reflected in the trading account. Case-Laws Income Tax Mon, 16 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66658