https://www.taxtmi.com/caselaws?id=39765 The High Court held that excess collections in sales tax accounts should be treated as income for the assessment year 1962-63. The court emphasized that sales tax collections were part of turnover and that the primary liability to pay sales tax was independent of collection from buyers. The court ruled that deductions for excess collections could only be claimed upon payment of the sales tax liability, rejecting the assessee's argument to deduct the actual sales tax liability incurred during the year before calculating excess collections. en-us Thu, 27 Sep 1973 00:00:00 +0530 Tue, 20 Apr 2010 11:55:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39765 The High Court held that excess collections in sales tax accounts should be treated as income for the assessment year 1962-63. The court emphasized that sales tax collections were part of turnover and that the primary liability to pay sales tax was independent of collection from buyers. The court ruled that deductions for excess collections could only be claimed upon payment of the sales tax liability, rejecting the assessee's argument to deduct the actual sales tax liability incurred during the year before calculating excess collections. Case-Laws Income Tax Thu, 27 Sep 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39765