https://www.taxtmi.com/caselaws?id=208361 The Tribunal allowed the appeals, ruling in favor of the assessee. It held that the interest accrued on the Special Fund did not belong to the assessee society, absolving them from tax liability. Ownership and control over the fund rested with REC, with the assessee acting as a custodian. The Tribunal determined that there was no diversion of income by overriding title, as the income was retained by REC. en-us Wed, 13 Jan 2010 00:00:00 +0530 Fri, 13 Jan 2012 09:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208361 The Tribunal allowed the appeals, ruling in favor of the assessee. It held that the interest accrued on the Special Fund did not belong to the assessee society, absolving them from tax liability. Ownership and control over the fund rested with REC, with the assessee acting as a custodian. The Tribunal determined that there was no diversion of income by overriding title, as the income was retained by REC. Case-Laws Income Tax Wed, 13 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208361