https://www.taxtmi.com/caselaws?id=71812 Excess levy sugar price received under interim court orders was treated as a contingent deposit and not as income in the year of receipt, because repayment could arise on final adjudication. A disputed contractual liability for additional cane purchase price was not deductible, as it had not crystallised and was not provided for in the accounts. Contribution to the Education Fund under the Maharashtra Co-operative Societies Act was also held not to be revenue expenditure, as it operated as an appropriation out of profits rather than a business outgoing. en-us Mon, 25 Sep 1989 00:00:00 +0530 Wed, 27 Apr 2011 11:57:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71812 Excess levy sugar price received under interim court orders was treated as a contingent deposit and not as income in the year of receipt, because repayment could arise on final adjudication. A disputed contractual liability for additional cane purchase price was not deductible, as it had not crystallised and was not provided for in the accounts. Contribution to the Education Fund under the Maharashtra Co-operative Societies Act was also held not to be revenue expenditure, as it operated as an appropriation out of profits rather than a business outgoing. Case-Laws Income Tax Mon, 25 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71812