https://www.taxtmi.com/caselaws?id=6148 Compulsory deductions from cane price were analysed to determine whether they constituted taxable income in the hands of sugar co-operative societies. Amounts described as refundable and non-refundable deposits were held not taxable because they were credited to members, carried interest, were repayable or convertible into shares on specified contingencies, and never became the societies' absolute property. Deductions remitted to the Chief Minister's Relief Fund, Y.B. Chavan Memorial Fund and Hutment Fund were also not taxable because they were diverted at source under government directions and the societies acted only as collecting agents. By contrast, amounts retained in the Cane Development Fund were taxable, as they were received and controlled by the assessees for their own operational benefit. en-us Wed, 08 Sep 2004 00:00:00 +0530 Tue, 23 Sep 2025 19:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6148 Compulsory deductions from cane price were analysed to determine whether they constituted taxable income in the hands of sugar co-operative societies. Amounts described as refundable and non-refundable deposits were held not taxable because they were credited to members, carried interest, were repayable or convertible into shares on specified contingencies, and never became the societies' absolute property. Deductions remitted to the Chief Minister's Relief Fund, Y.B. Chavan Memorial Fund and Hutment Fund were also not taxable because they were diverted at source under government directions and the societies acted only as collecting agents. By contrast, amounts retained in the Cane Development Fund were taxable, as they were received and controlled by the assessees for their own operational benefit. Case-Laws Income Tax Wed, 08 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6148