https://www.taxtmi.com/caselaws?id=70453 The Tribunal ruled in favor of the assessee, determining that the amounts in the 'sugar sales suspense account' and the statutory storage funds should not be included in the income for the relevant assessment years. The Tribunal held that the excess collections in the 'sugar sales suspense account' did not constitute turnover and should not be part of the gross total income. Similarly, the amounts credited to the statutory storage funds were not considered as income due to statutory restrictions on their use, unless specifically directed or permitted for expenditure on storage facilities. en-us Fri, 06 Sep 1985 00:00:00 +0530 Sat, 16 Apr 2011 12:40:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70453 The Tribunal ruled in favor of the assessee, determining that the amounts in the 'sugar sales suspense account' and the statutory storage funds should not be included in the income for the relevant assessment years. The Tribunal held that the excess collections in the 'sugar sales suspense account' did not constitute turnover and should not be part of the gross total income. Similarly, the amounts credited to the statutory storage funds were not considered as income due to statutory restrictions on their use, unless specifically directed or permitted for expenditure on storage facilities. Case-Laws Income Tax Fri, 06 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70453