https://www.taxtmi.com/caselaws?id=189124 A statutory corporation engaged in liquor trading remained taxable on income accrued in its own hands because the amounts described as privilege fee, special privilege fee and special privilege fee for sports were realised from sales and remitted only afterwards to the Government. The absence of a clear statutory mechanism diverting income before accrual meant the claim of diversion by overriding title failed, and Article 289 did not exempt the receipts. The issue of disallowance of provision for leave encashment and pension contribution was not examined on merits and was sent back for fresh consideration after hearing the assessee. en-us Tue, 21 Jan 2014 00:00:00 +0530 Thu, 29 Dec 2016 10:01:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189124 A statutory corporation engaged in liquor trading remained taxable on income accrued in its own hands because the amounts described as privilege fee, special privilege fee and special privilege fee for sports were realised from sales and remitted only afterwards to the Government. The absence of a clear statutory mechanism diverting income before accrual meant the claim of diversion by overriding title failed, and Article 289 did not exempt the receipts. The issue of disallowance of provision for leave encashment and pension contribution was not examined on merits and was sent back for fresh consideration after hearing the assessee. Case-Laws Income Tax Tue, 21 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189124