https://www.taxtmi.com/caselaws?id=281489 Sales tax collected by a distributor or commission agent on consignment sales was held not to be the assessee's trading receipt, because the collections were made in a representative capacity for the principal and section 43B could not be applied to add them back. Land revenue paid after receipt of demand during the year was deductible under the mercantile system, since the liability had crystallised in that year. By contrast, an amount admittedly relating to earlier years could not be claimed in the year under appeal merely because it appeared as a difference between expenditure and income, so the prior-years disallowance was upheld. en-us Fri, 21 Feb 1992 00:00:00 +0530 Thu, 20 Jun 2019 18:15:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281489 Sales tax collected by a distributor or commission agent on consignment sales was held not to be the assessee's trading receipt, because the collections were made in a representative capacity for the principal and section 43B could not be applied to add them back. Land revenue paid after receipt of demand during the year was deductible under the mercantile system, since the liability had crystallised in that year. By contrast, an amount admittedly relating to earlier years could not be claimed in the year under appeal merely because it appeared as a difference between expenditure and income, so the prior-years disallowance was upheld. Case-Laws Income Tax Fri, 21 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281489