https://www.taxtmi.com/caselaws?id=235504 Section 43B, as applicable for assessment year 1985-86, covered only tax or duty and did not then extend to cess and cess surcharge under the Tamil Nadu Panchayats Act, 1958; the later 1988 amendment bringing cess and fee within the provision was stated to operate only prospectively from assessment year 1989-90. The levies were also credited to special panchayat funds rather than the consolidated fund, which reinforced that they lacked the attributes required for section 43B treatment. Refundable deposits collected from buyers against possible sales tax liability on packing charges and freight were held in a custodial capacity, separately accounted for, and refundable if the levy failed; they were therefore not trading receipts or collections by way of tax. en-us Tue, 23 Jul 2013 00:00:00 +0530 Mon, 28 Oct 2013 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235504 Section 43B, as applicable for assessment year 1985-86, covered only tax or duty and did not then extend to cess and cess surcharge under the Tamil Nadu Panchayats Act, 1958; the later 1988 amendment bringing cess and fee within the provision was stated to operate only prospectively from assessment year 1989-90. The levies were also credited to special panchayat funds rather than the consolidated fund, which reinforced that they lacked the attributes required for section 43B treatment. Refundable deposits collected from buyers against possible sales tax liability on packing charges and freight were held in a custodial capacity, separately accounted for, and refundable if the levy failed; they were therefore not trading receipts or collections by way of tax. Case-Laws Income Tax Tue, 23 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235504