https://www.taxtmi.com/caselaws?id=276678 The tax treatment of empty bottle return security deposits changed once rule 40(14)(f) of the Punjab Liquor Licence Rules was amended with effect from 1 April 1948. Amounts collected before that date, and any collections exceeding the permitted limit, continued to be treated as trading receipts and remained assessable as income. By contrast, deposits taken after 1 April 1948 within the amended rule's authorised security arrangement acquired a statutory character and did not retain the same assessable character as income under section 10 of the Income-tax Act. en-us Thu, 23 Mar 1961 00:00:00 +0530 Thu, 15 Nov 2018 17:38:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276678 The tax treatment of empty bottle return security deposits changed once rule 40(14)(f) of the Punjab Liquor Licence Rules was amended with effect from 1 April 1948. Amounts collected before that date, and any collections exceeding the permitted limit, continued to be treated as trading receipts and remained assessable as income. By contrast, deposits taken after 1 April 1948 within the amended rule's authorised security arrangement acquired a statutory character and did not retain the same assessable character as income under section 10 of the Income-tax Act. Case-Laws Income Tax Thu, 23 Mar 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276678