https://www.taxtmi.com/caselaws?id=63653 The assessee's statutory contribution to the molasses storage fund under Section 18A of the U.P. Sheera Niyantran Adhiniyam, 1964 was treated as an allowable statutory liability because the amount had to be credited to a separate account and could be used only under the control of the statutory authority. As the assessee had no control or power to apply the funds for its own purposes, the contribution was held to be diverted at source and not part of the assessee's disposable income. The Tribunal followed its earlier view on the same issue and accepted the assessee's claim. en-us Mon, 24 Sep 1984 00:00:00 +0530 Tue, 01 Feb 2011 12:24:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63653 The assessee's statutory contribution to the molasses storage fund under Section 18A of the U.P. Sheera Niyantran Adhiniyam, 1964 was treated as an allowable statutory liability because the amount had to be credited to a separate account and could be used only under the control of the statutory authority. As the assessee had no control or power to apply the funds for its own purposes, the contribution was held to be diverted at source and not part of the assessee's disposable income. The Tribunal followed its earlier view on the same issue and accepted the assessee's claim. Case-Laws Income Tax Mon, 24 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63653