https://www.taxtmi.com/caselaws?id=49360 Amounts collected as empty-bottle return security deposits were treated as trading receipts because they formed part of the consideration for bottled liquor sales and remained connected to the trading transaction. Amended excise rules did not alter the essential character of the collections, and they did not create a true enforceable right in the distiller to compel bottle return. The earlier view that the deposits were taxable was affirmed on the basis that a sum received under an ancillary sales contract is assessable as a trading receipt unless it is an independent loan or anterior deposit. en-us Tue, 24 Mar 1964 00:00:00 +0530 Sun, 24 Aug 2014 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49360 Amounts collected as empty-bottle return security deposits were treated as trading receipts because they formed part of the consideration for bottled liquor sales and remained connected to the trading transaction. Amended excise rules did not alter the essential character of the collections, and they did not create a true enforceable right in the distiller to compel bottle return. The earlier view that the deposits were taxable was affirmed on the basis that a sum received under an ancillary sales contract is assessable as a trading receipt unless it is an independent loan or anterior deposit. Case-Laws Income Tax Tue, 24 Mar 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49360