Where assessee, a manufacturer and
supplier of gas in cylinders, received security deposit from customers,
in view of fact that money received as security was never part of sale
price and that security money was refundable to customers, it could not
be brought to tax as trading receipt
We informally talk about Tax specially about Indian Income-tax Act, 1961, GST,FDI, Corporate Law and allied laws. The other motive is also to keep fellow professionals, entrepreneurs, NRIs, Foreign Investors and students updated. A place to share the common point of interest 'TAX' because sharing is caring!
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