https://www.taxtmi.com/caselaws?id=184472 Amounts collected as empty bottle return security deposits were treated in substance as part of the sale proceeds of bottled liquor and, therefore, as trading receipts. Their character was determined by the true nature of the receipt at inception, not by the label attached to it, because the sums were charged in connection with the sale of bottles and liquor and formed no real commercial distinction from the sale price. The earlier authority on monies received for others was distinguished since these amounts arose in the assessee's trading operations rather than as funds merely held on behalf of customers. en-us Tue, 16 Jun 1953 00:00:00 +0530 Sat, 09 Jul 2016 12:50:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184472 Amounts collected as empty bottle return security deposits were treated in substance as part of the sale proceeds of bottled liquor and, therefore, as trading receipts. Their character was determined by the true nature of the receipt at inception, not by the label attached to it, because the sums were charged in connection with the sale of bottles and liquor and formed no real commercial distinction from the sale price. The earlier authority on monies received for others was distinguished since these amounts arose in the assessee's trading operations rather than as funds merely held on behalf of customers. Case-Laws Income Tax Tue, 16 Jun 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184472