https://www.taxtmi.com/caselaws?id=153297 The Calcutta High Court ruled that the excess collection made from customers on account of Central sales tax, amounting to Rs. 76,103, should be considered as taxable income under the Income-tax Act, 1961. The Court held that even if the amount was not paid to the government, it constituted trading receipts and had to be included in the total income of the assessee. The decision aligned with established legal precedents and rejected the contention that the amount was refundable and not yet final. The High Court's judgment favored the revenue, concluding that the sum in question represented taxable income. en-us Wed, 07 Jan 1981 00:00:00 +0530 Sat, 20 Jul 2013 18:30:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153297 The Calcutta High Court ruled that the excess collection made from customers on account of Central sales tax, amounting to Rs. 76,103, should be considered as taxable income under the Income-tax Act, 1961. The Court held that even if the amount was not paid to the government, it constituted trading receipts and had to be included in the total income of the assessee. The decision aligned with established legal precedents and rejected the contention that the amount was refundable and not yet final. The High Court's judgment favored the revenue, concluding that the sum in question represented taxable income. Case-Laws VAT and Sales Tax Wed, 07 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153297