https://www.taxtmi.com/caselaws?id=171244 The Court ruled in favor of the assessed, a public limited company, in all appeals, holding that the sum credited to the molasses storage fund should not be included in the appellant's income. The Court emphasized the diversion of title at the source of income collected for the fund, indicating that it did not belong to the assessed and could not be utilized for other purposes. The decision aligned with previous legal stances and established a clear precedent, ultimately deciding against the Revenue in this matter. en-us Fri, 01 Oct 2004 00:00:00 +0530 Tue, 14 Jul 2015 19:10:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171244 The Court ruled in favor of the assessed, a public limited company, in all appeals, holding that the sum credited to the molasses storage fund should not be included in the appellant's income. The Court emphasized the diversion of title at the source of income collected for the fund, indicating that it did not belong to the assessed and could not be utilized for other purposes. The decision aligned with previous legal stances and established a clear precedent, ultimately deciding against the Revenue in this matter. Case-Laws Income Tax Fri, 01 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171244