https://www.taxtmi.com/caselaws?id=36357 The Calcutta High Court ruled in favor of the revenue, holding that the excess collection on account of Central sales tax constituted taxable income for the assessee. The court disagreed with the Tribunal's decision and emphasized that such amounts are considered trading receipts and must be included in total income, with the possibility of deduction upon payment to the Government. The judgment aligns with established legal principles and precedents, ensuring consistency in interpreting taxable income under the Income-tax Act, 1961. en-us Wed, 07 Jan 1981 00:00:00 +0530 Mon, 22 Mar 2010 10:04:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36357 The Calcutta High Court ruled in favor of the revenue, holding that the excess collection on account of Central sales tax constituted taxable income for the assessee. The court disagreed with the Tribunal's decision and emphasized that such amounts are considered trading receipts and must be included in total income, with the possibility of deduction upon payment to the Government. The judgment aligns with established legal principles and precedents, ensuring consistency in interpreting taxable income under the Income-tax Act, 1961. Case-Laws Income Tax Wed, 07 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36357