ISHWARDAS SONS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Assessee is the appellant. Following are the questions of law raised for our consideration.

(2.) Whether on the facts and in the circumstances of the case the Tribunal is correct in law and fact in holding that the "contingency deposit" being money received from the principals and retained by the agent for the discharge of the liability of the principals from the payments due to the principals is a trading receipt in the hands of the appellant

(3.) Whether the Tribunal is correct in law and fact in holding that as 'dealer' under the Sales Tax Act includes a commission agent also, the burden to pay turnover tax which is on the principals shifts to the appellant