https://www.taxtmi.com/caselaws?id=192706 Interest earned on deposits of UI charges held under the regulatory framework was treated as not belonging to the assessee where the PAN was used only for convenience and the funds were maintained for the regulatory authority's purposes. The later trust arrangement reinforced that the assessee did not own the moneys in the UI account. As the interest was not the assessee's real income, it could not be assessed in its hands and there was no basis to include it in book profit under section 115JB. The deletion of the addition was upheld. en-us Thu, 30 Oct 2014 00:00:00 +0530 Wed, 14 Jun 2017 10:02:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192706 Interest earned on deposits of UI charges held under the regulatory framework was treated as not belonging to the assessee where the PAN was used only for convenience and the funds were maintained for the regulatory authority's purposes. The later trust arrangement reinforced that the assessee did not own the moneys in the UI account. As the interest was not the assessee's real income, it could not be assessed in its hands and there was no basis to include it in book profit under section 115JB. The deletion of the addition was upheld. Case-Laws Income Tax Thu, 30 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192706