https://www.taxtmi.com/caselaws?id=26080 Laga collections made under the prevailing custom in the Mattancherry bazaar for specified charitable disbursements were treated as collections held for distribution, not as trading receipts of the business. The assessee-firm acted only as an agent in passing on the amounts to charities, so the receipts lacked the character of income in its hands. On that basis, the collections were held not to constitute the assessee's income, and the issue was decided in favour of the assessee. en-us Thu, 13 Dec 1979 00:00:00 +0530 Tue, 02 Feb 2010 16:11:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26080 Laga collections made under the prevailing custom in the Mattancherry bazaar for specified charitable disbursements were treated as collections held for distribution, not as trading receipts of the business. The assessee-firm acted only as an agent in passing on the amounts to charities, so the receipts lacked the character of income in its hands. On that basis, the collections were held not to constitute the assessee's income, and the issue was decided in favour of the assessee. Case-Laws Income Tax Thu, 13 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26080