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1987 (4) TMI 447 - ITAT HYDERABADBusiness income - Chargeable as - Assessee-company, a dealer in liquefied gas, supplied cylinders to customers by entering into agreements under which refundable amount of Rs. 100 per cylinder termed as deposit for supplying gas were collected from various parties - Held that:- Transfer - Whether in view of facts given under heading ‘Business income - Chargeable as’, there was neither any sale, nor extinguishment of any ownership rights in cylinders and, hence, there was no transfer within terms of section 2(47)
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