https://www.taxtmi.com/caselaws?id=7635 Sales tax collected from customers was treated as a trading receipt where it was received along with sale consideration, shown in the bills as part of the total amount, and accounted for as a liability without being kept in a separate deposit. The decisive factor was the character of the receipt at the time of collection: money mixed with the trader's own funds and used in business remains taxable income, even if a later obligation to remit or refund may arise. On these facts, the collection was not separately earmarked or placed beyond the trader's control, so it was includible in total income. en-us Mon, 10 Feb 1969 00:00:00 +0530 Tue, 17 Mar 2009 08:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7635 Sales tax collected from customers was treated as a trading receipt where it was received along with sale consideration, shown in the bills as part of the total amount, and accounted for as a liability without being kept in a separate deposit. The decisive factor was the character of the receipt at the time of collection: money mixed with the trader's own funds and used in business remains taxable income, even if a later obligation to remit or refund may arise. On these facts, the collection was not separately earmarked or placed beyond the trader's control, so it was includible in total income. Case-Laws Income Tax Mon, 10 Feb 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7635