https://www.taxtmi.com/caselaws?id=16105 The High Court held that the net sales tax collection retained by the assessee after paying the government was a revenue receipt and taxable. The court emphasized that such collections are part of the consideration for sale and constitute business receipts. Relying on precedents, the court ruled in favor of the Revenue, stating that sales tax collections form an integral part of the commercial transaction and must be taxed. Refunds of sales tax were also deemed taxable. The judgment concluded that the net sales tax collection was indeed taxable as a revenue receipt, disposing of the reference in favor of the Revenue. en-us Wed, 10 Feb 1999 00:00:00 +0530 Tue, 01 Sep 2009 11:32:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16105 The High Court held that the net sales tax collection retained by the assessee after paying the government was a revenue receipt and taxable. The court emphasized that such collections are part of the consideration for sale and constitute business receipts. Relying on precedents, the court ruled in favor of the Revenue, stating that sales tax collections form an integral part of the commercial transaction and must be taxed. Refunds of sales tax were also deemed taxable. The judgment concluded that the net sales tax collection was indeed taxable as a revenue receipt, disposing of the reference in favor of the Revenue. Case-Laws Income Tax Wed, 10 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16105