https://www.taxtmi.com/caselaws?id=49632 Amounts collected as "empty bottle return security deposits" were treated as trading receipts because they were taken as a condition of each liquor sale and formed part of the commercial consideration. Their label as deposits and the fact that they were refundable on return of bottles did not alter their character for tax purposes, since they arose directly from trading operations rather than from a collateral loan or pre-trading arrangement. The Supreme Court held that such receipts are income assessable under section 10 of the Income-tax Act, 1922, in favour of Revenue. 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 Amounts collected as "empty bottle return security deposits" were treated as trading receipts because they were taken as a condition of each liquor sale and formed part of the commercial consideration. Their label as deposits and the fact that they were refundable on return of bottles did not alter their character for tax purposes, since they arose directly from trading operations rather than from a collateral loan or pre-trading arrangement. The Supreme Court held that such receipts are income assessable under section 10 of the Income-tax Act, 1922, in favour of Revenue. Case-Laws Income Tax Mon, 24 Nov 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49632