https://www.taxtmi.com/caselaws?id=6776 A customs rebate credited in the assessee's books as its own receipt, and not passed on to the mills, was treated as the assessee's beneficial income. The Tribunal's finding was supported by relevant evidence, including the government circular, contract material, the assessee's accounts, and the admitted non-payment to the mills, and was not shown to be perverse. On that factual basis, the rebate amounts were held taxable as income of the assessee rather than as a mere liability to be remitted to another party, and the Revenue's position was upheld. en-us Thu, 18 Feb 1965 00:00:00 +0530 Mon, 02 Feb 2009 09:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6776 A customs rebate credited in the assessee's books as its own receipt, and not passed on to the mills, was treated as the assessee's beneficial income. The Tribunal's finding was supported by relevant evidence, including the government circular, contract material, the assessee's accounts, and the admitted non-payment to the mills, and was not shown to be perverse. On that factual basis, the rebate amounts were held taxable as income of the assessee rather than as a mere liability to be remitted to another party, and the Revenue's position was upheld. Case-Laws Income Tax Thu, 18 Feb 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6776