https://www.taxtmi.com/caselaws?id=49632 Whether refundable sums labelled as "empty bottle return security deposits" are income under Section 10 was decided by treating those collections as integral to each completed sale: they were demanded as an essential contractual term, linked to the sale price and refundable only upon return conditions, and thus operate as part of the consideration for the trading transaction. Applying precedents distinguishing trading-price-related deposits from loans or antecedent receipts, the note concludes these deposits are trading receipts and therefore assessable as income under Section 10. en-us Mon, 24 Nov 1958 00:00:00 +0530 Thu, 04 Sep 2014 19:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49632 Whether refundable sums labelled as "empty bottle return security deposits" are income under Section 10 was decided by treating those collections as integral to each completed sale: they were demanded as an essential contractual term, linked to the sale price and refundable only upon return conditions, and thus operate as part of the consideration for the trading transaction. Applying precedents distinguishing trading-price-related deposits from loans or antecedent receipts, the note concludes these deposits are trading receipts and therefore assessable as income under Section 10. Case-Laws Income Tax Mon, 24 Nov 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49632