https://www.taxtmi.com/caselaws?id=178294 A compulsory contribution imposed under the governing co-operative law and bye-laws was treated as diversion of income at source by overriding title, not as an application of income after accrual, so the disallowance of the co-operative education fund contribution was unjustified and the deduction was allowed. The assessee's contention that other fund contributions were made out of net profits after tax and only with general body approval had not been examined, so that issue was remitted to the first appellate authority for fresh consideration. en-us Thu, 28 Feb 2013 00:00:00 +0530 Mon, 01 Feb 2016 17:49:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178294 A compulsory contribution imposed under the governing co-operative law and bye-laws was treated as diversion of income at source by overriding title, not as an application of income after accrual, so the disallowance of the co-operative education fund contribution was unjustified and the deduction was allowed. The assessee's contention that other fund contributions were made out of net profits after tax and only with general body approval had not been examined, so that issue was remitted to the first appellate authority for fresh consideration. Case-Laws Income Tax Thu, 28 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178294