https://www.taxtmi.com/caselaws?id=40332 Where an agreement expressly apportions consideration between latex and fuel, the stated allocation governs tax treatment, and the amount attributable to latex is treated as revenue receipt. In the absence of any recital splitting consideration in a later agreement, no part of the price can be presumed to relate to latex merely because an earlier contract contained such an allocation; a supporting contractual or factual basis is required. The first agreement was therefore sustained in revenue treatment for the latex component, while the addition under the second agreement was set aside for want of any basis to infer a taxable latex element. en-us Thu, 03 Dec 1998 00:00:00 +0530 Tue, 27 Apr 2010 10:52:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40332 Where an agreement expressly apportions consideration between latex and fuel, the stated allocation governs tax treatment, and the amount attributable to latex is treated as revenue receipt. In the absence of any recital splitting consideration in a later agreement, no part of the price can be presumed to relate to latex merely because an earlier contract contained such an allocation; a supporting contractual or factual basis is required. The first agreement was therefore sustained in revenue treatment for the latex component, while the addition under the second agreement was set aside for want of any basis to infer a taxable latex element. Case-Laws Income Tax Thu, 03 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40332