https://www.taxtmi.com/caselaws?id=160375 Amounts compulsorily set apart under a statutory molasses storage maintenance fund were not taxable income because the assessee had no unrestricted dominion over the money and could use it only for the controlled statutory purpose. The court also treated interest on excess levy sugar price as an accrued, crystallised liability under the levy sugar price equalisation scheme, not a contingent provision, and held it deductible as revenue expenditure. Both referred questions were answered in favour of the assessee and against the Revenue. en-us Tue, 20 Sep 2005 00:00:00 +0530 Tue, 17 Dec 2013 11:44:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=160375 Amounts compulsorily set apart under a statutory molasses storage maintenance fund were not taxable income because the assessee had no unrestricted dominion over the money and could use it only for the controlled statutory purpose. The court also treated interest on excess levy sugar price as an accrued, crystallised liability under the levy sugar price equalisation scheme, not a contingent provision, and held it deductible as revenue expenditure. Both referred questions were answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Tue, 20 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=160375