https://www.taxtmi.com/caselaws?id=25535 Amounts collected in the course of business towards statutory tax liability and mixed with the assessee's own funds were treated as trading receipts, because tax collections received during trade assume that character when not held separately for the payors. The distinction between sales tax and purchase tax did not alter that principle, as both are statutory levies collected in the course of business. The amounts were therefore includible in total income against the assessee. en-us Tue, 16 Dec 1986 00:00:00 +0530 Fri, 29 Jan 2010 12:45:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25535 Amounts collected in the course of business towards statutory tax liability and mixed with the assessee's own funds were treated as trading receipts, because tax collections received during trade assume that character when not held separately for the payors. The distinction between sales tax and purchase tax did not alter that principle, as both are statutory levies collected in the course of business. The amounts were therefore includible in total income against the assessee. Case-Laws Income Tax Tue, 16 Dec 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25535