Even if it is assumed that the assessee was authorized to collect sales tax and retain with it, the same will be chargeable to tax as trading receipt

DECIDED BY: ITAT, DELHI BENCH `D’, DELHI, IN THE CASE OF: LG Electronics India Pvt. Ltd. Vs. Addl. CIT, APPEAL NO: ITA No. 1404 (Del) of 2007, DECIDED ON February 26, 2010 RELEVANT PARAGRAPH 9. We have heard both the parties and gone through the material available on record. In this case the assessee had collected sales tax as a part of dealers’ price. At the year end the sales tax portion, which formed the part of dealers’ price had been bifurcated and has been claimed as capital subsidy. We have also gone through the Notification No. 1179 dated 31.03.1995 issued by the Stat...