https://www.taxtmi.com/caselaws?id=259809 The Court held that non-refundable deposits and interest thereon cannot be added to the income of the cooperative sugar factory. The matter of Indira Awas Nidhi and Earthquake fund was remanded for fresh consideration, while the Chief Minister's fund was decided in favor of the assessee. The Area Development fund's issue was sent back for reconsideration, the Cane Development fund was considered as income of the factory, and the Small Savings issue was resolved in favor of the assessee. Specific directions were given for each fund and deposit type based on the Court's analysis and previous judgments. en-us Thu, 07 May 2015 00:00:00 +0530 Fri, 22 May 2015 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259809 The Court held that non-refundable deposits and interest thereon cannot be added to the income of the cooperative sugar factory. The matter of Indira Awas Nidhi and Earthquake fund was remanded for fresh consideration, while the Chief Minister's fund was decided in favor of the assessee. The Area Development fund's issue was sent back for reconsideration, the Cane Development fund was considered as income of the factory, and the Small Savings issue was resolved in favor of the assessee. Specific directions were given for each fund and deposit type based on the Court's analysis and previous judgments. Case-Laws Income Tax Thu, 07 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259809