https://www.taxtmi.com/caselaws?id=211603 Amounts spent to build flyovers and pedestrian facilities under a liquor trade condition were treated as revenue expenditure because the assessee did not acquire those assets for its own business use and the structures were to be handed over to Government; the deduction was allowed under Section 37. Receipts placed in the Transport Infrastructure Utilisation Fund were held taxable because the assessee received them and only had to apply them for a specified purpose, so there was no diversion by overriding title. By contrast, amounts in the Other General Economic Services account were not treated as the assessee's taxable income on the facts. Interest earned on the Transport Infrastructure Utilisation Fund was also taxable in the assessee's hands. en-us Tue, 20 Mar 2012 00:00:00 +0530 Fri, 28 Jun 2013 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211603 Amounts spent to build flyovers and pedestrian facilities under a liquor trade condition were treated as revenue expenditure because the assessee did not acquire those assets for its own business use and the structures were to be handed over to Government; the deduction was allowed under Section 37. Receipts placed in the Transport Infrastructure Utilisation Fund were held taxable because the assessee received them and only had to apply them for a specified purpose, so there was no diversion by overriding title. By contrast, amounts in the Other General Economic Services account were not treated as the assessee's taxable income on the facts. Interest earned on the Transport Infrastructure Utilisation Fund was also taxable in the assessee's hands. Case-Laws Income Tax Tue, 20 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211603