https://www.taxtmi.com/caselaws?id=7688 Refund of sales tax previously allowed as a business deduction was taxable as business income where the amount had been claimed and allowed in an earlier year and was actually received from the State Government in the relevant previous year. The possibility of a later passing on of the refund to constituents did not create an ascertained liability in that year. Section 10(2A) therefore deemed the receipt to be profits and gains of business, even if it was not income in the strict sense, and the amount was correctly included in the assessee's taxable business income. en-us Tue, 28 Oct 1969 00:00:00 +0530 Tue, 17 Mar 2009 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7688 Refund of sales tax previously allowed as a business deduction was taxable as business income where the amount had been claimed and allowed in an earlier year and was actually received from the State Government in the relevant previous year. The possibility of a later passing on of the refund to constituents did not create an ascertained liability in that year. Section 10(2A) therefore deemed the receipt to be profits and gains of business, even if it was not income in the strict sense, and the amount was correctly included in the assessee's taxable business income. Case-Laws Income Tax Tue, 28 Oct 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7688