https://www.taxtmi.com/caselaws?id=14942 The High Court upheld the taxability of excise duty deposits as income of the assessee, ruling in favor of the Revenue. The court determined that the deposits were part of the sale price received for goods sold, subject to potential refund conditions if liabilities were not sustained. The decision aligned with previous court precedents and allowed for deductions as trade expenses when applicable. The court distinguished the case from others cited by the assessee, emphasizing the right to receive the disputed amount as part of trade liability. Ultimately, the court answered in favor of the Revenue, allowing for deductions as per established precedents. en-us Fri, 23 Apr 1999 00:00:00 +0530 Mon, 27 Jul 2009 12:18:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14942 The High Court upheld the taxability of excise duty deposits as income of the assessee, ruling in favor of the Revenue. The court determined that the deposits were part of the sale price received for goods sold, subject to potential refund conditions if liabilities were not sustained. The decision aligned with previous court precedents and allowed for deductions as trade expenses when applicable. The court distinguished the case from others cited by the assessee, emphasizing the right to receive the disputed amount as part of trade liability. Ultimately, the court answered in favor of the Revenue, allowing for deductions as per established precedents. Case-Laws Income Tax Fri, 23 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14942