https://www.taxtmi.com/caselaws?id=27981 The High Court held that unrefunded excess deposits of Rs. 17,691 by a machinery dealer were taxable as trade receipts due to their close connection with the sale transaction. The court ruled in favor of the Department, distinguishing the case from precedents and emphasizing the deposits' nature as trading receipts rather than borrowed money or trust funds. The decision awarded costs to the Department, concluding that the surplus deposits constituted taxable income for the assessment year in question. en-us Wed, 22 Feb 1984 00:00:00 +0530 Wed, 17 Feb 2010 12:04:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27981 The High Court held that unrefunded excess deposits of Rs. 17,691 by a machinery dealer were taxable as trade receipts due to their close connection with the sale transaction. The court ruled in favor of the Department, distinguishing the case from precedents and emphasizing the deposits' nature as trading receipts rather than borrowed money or trust funds. The decision awarded costs to the Department, concluding that the surplus deposits constituted taxable income for the assessment year in question. Case-Laws Income Tax Wed, 22 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27981