https://www.taxtmi.com/caselaws?id=119518 Amounts collected as renovation and modernisation levy and research and development levy were held to be taxable business receipts because they were collected with tariff, retained by the assessee, and merely subject to directions on utilisation; there was no overriding title or diversion at source, and they were not capital receipts. Prior period expenditure was disallowed because the assessee failed to show that the liability crystallised in the relevant year. The provision for doubtful advances was allowed, as the advances arose in the course of business and the outstanding balance was commercially supportable. en-us Thu, 05 Apr 2007 00:00:00 +0530 Wed, 11 Jul 2012 15:34:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119518 Amounts collected as renovation and modernisation levy and research and development levy were held to be taxable business receipts because they were collected with tariff, retained by the assessee, and merely subject to directions on utilisation; there was no overriding title or diversion at source, and they were not capital receipts. Prior period expenditure was disallowed because the assessee failed to show that the liability crystallised in the relevant year. The provision for doubtful advances was allowed, as the advances arose in the course of business and the outstanding balance was commercially supportable. Case-Laws Income Tax Thu, 05 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119518