https://www.taxtmi.com/caselaws?id=26173 The court dismissed the applications under section 256(2) of the Income-tax Act, 1961, filed by the Commissioner of Income-tax, Rajasthan, Jaipur, seeking a reference from the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur. The dispute over whether amounts collected by the assessee as deposits against sales tax should be considered as revenue receipts for taxation purposes was resolved in favor of the assessee. The Tribunal's decision to deduct these amounts as security deposits, rather than treating them as trading receipts, was upheld, leading to the dismissal of the Department's application for rectification. en-us Tue, 20 Aug 1985 00:00:00 +0530 Wed, 03 Feb 2010 12:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26173 The court dismissed the applications under section 256(2) of the Income-tax Act, 1961, filed by the Commissioner of Income-tax, Rajasthan, Jaipur, seeking a reference from the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur. The dispute over whether amounts collected by the assessee as deposits against sales tax should be considered as revenue receipts for taxation purposes was resolved in favor of the assessee. The Tribunal's decision to deduct these amounts as security deposits, rather than treating them as trading receipts, was upheld, leading to the dismissal of the Department's application for rectification. Case-Laws Income Tax Tue, 20 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26173