https://www.taxtmi.com/caselaws?id=49360 Whether collections labelled as empty-bottle return security deposits are income was resolved by treating them as part of the sale consideration and thus trading receipts assessable under section 10. The earlier ruling that such sums formed part of the price because they were demanded as a condition of sale was applied. The High Court distinctions - statutory sanction, asserted right of return, and rule-based collection - were rejected: statutory authorisation did not alter the contractual character, no enforceable consumer or retailer right of return was created, and the rule merely authorised deposit contracts without displacing the contractual source. Outcome: assessable as trading receipts. 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 Whether collections labelled as empty-bottle return security deposits are income was resolved by treating them as part of the sale consideration and thus trading receipts assessable under section 10. The earlier ruling that such sums formed part of the price because they were demanded as a condition of sale was applied. The High Court distinctions - statutory sanction, asserted right of return, and rule-based collection - were rejected: statutory authorisation did not alter the contractual character, no enforceable consumer or retailer right of return was created, and the rule merely authorised deposit contracts without displacing the contractual source. Outcome: assessable as trading receipts. Case-Laws Income Tax Tue, 24 Mar 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49360