https://www.taxtmi.com/caselaws?id=20084 Refundable amounts collected pending production of declaration forms were not treated as trading receipts merely because they were linked to sales tax or customs duty. On the sales tax issue, the excess collection from registered purchasers was held to be a refundable security deposit kept in suspense account under an obligation to refund, so section 43B of the Income-tax Act did not apply. On the customs duty issue, the receipt from importers was said to depend on the true contractual relationship, especially whether the assessee acted only as an agent; the matter required fresh factual and legal examination by the Tribunal. en-us Fri, 07 May 1993 00:00:00 +0530 Wed, 11 Nov 2009 16:01:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20084 Refundable amounts collected pending production of declaration forms were not treated as trading receipts merely because they were linked to sales tax or customs duty. On the sales tax issue, the excess collection from registered purchasers was held to be a refundable security deposit kept in suspense account under an obligation to refund, so section 43B of the Income-tax Act did not apply. On the customs duty issue, the receipt from importers was said to depend on the true contractual relationship, especially whether the assessee acted only as an agent; the matter required fresh factual and legal examination by the Tribunal. Case-Laws Income Tax Fri, 07 May 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20084