https://www.taxtmi.com/caselaws?id=8969 Surplus sales tax collected by a registered dealer over the amount actually payable to the Government was held to be taxable income. Under the U.P. Sales Tax Act, the dealer remained primarily liable for the tax, and the ability to recover an equivalent amount from customers did not create a governmental agency or trust over the collections. The tax amounts formed part of the sale price and were trading receipts. For an assessee using the cash system, only the amount actually paid to the Government was deductible, and any retained surplus constituted income in the relevant assessment year. en-us Thu, 04 May 1972 00:00:00 +0530 Wed, 17 Jun 2009 18:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8969 Surplus sales tax collected by a registered dealer over the amount actually payable to the Government was held to be taxable income. Under the U.P. Sales Tax Act, the dealer remained primarily liable for the tax, and the ability to recover an equivalent amount from customers did not create a governmental agency or trust over the collections. The tax amounts formed part of the sale price and were trading receipts. For an assessee using the cash system, only the amount actually paid to the Government was deductible, and any retained surplus constituted income in the relevant assessment year. Case-Laws Income Tax Thu, 04 May 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8969