ABSTRACT
A “deposit”, in its ordinary, day-to-day meaning, is a sum received that must be repaid on a particular date or when certain conditions are fulfilled. In this sense, there is no difference between a “deposit” and any other loan. Loan monies will not be regarded as “income” in the borrower’s hands, since the increase in his assets is correspondingly “balanced” by the increase in his liability. The “increase” in the recipient’s economic wealth is zero, and the absence of increase in the recipient’s economic wealth means that no income has been generated.1
