https://www.taxtmi.com/caselaws?id=27446 The High Court of Andhra Pradesh ruled that sales tax collections made by the assessee, a commission agent, were not considered income liable to tax. The court held that the collections were diverted to agriculturist principals under a legal obligation and should be deducted in computing income. The court distinguished previous Supreme Court decisions, noting the assessee's adherence to the mercantile accounting system. Ultimately, the court found in favor of the assessee, affirming that the sales tax collections were not trading receipts and the liability to repay the tax should be deducted in income calculations. en-us Wed, 13 Apr 1983 00:00:00 +0530 Fri, 12 Feb 2010 18:29:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27446 The High Court of Andhra Pradesh ruled that sales tax collections made by the assessee, a commission agent, were not considered income liable to tax. The court held that the collections were diverted to agriculturist principals under a legal obligation and should be deducted in computing income. The court distinguished previous Supreme Court decisions, noting the assessee's adherence to the mercantile accounting system. Ultimately, the court found in favor of the assessee, affirming that the sales tax collections were not trading receipts and the liability to repay the tax should be deducted in income calculations. Case-Laws Income Tax Wed, 13 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27446