https://www.taxtmi.com/caselaws?id=10716 Member collections from sugarcane price were treated differently depending on their legal character and use. Non-refundable deposits and allied welfare-linked funds, including relief and education contributions, were held not to be trading receipts because the society did not retain them as income and applied them only for specified statutory or bye-law purposes. By contrast, the cane development fund was held taxable as a trading receipt because it accrued to the assessee and was used for its own benefit. The area development fund, college fund and water scarcity fund were left open or remitted for fresh consideration owing to inadequate material on their nature and utilisation. en-us Tue, 28 Jun 2005 00:00:00 +0530 Wed, 22 Jul 2009 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10716 Member collections from sugarcane price were treated differently depending on their legal character and use. Non-refundable deposits and allied welfare-linked funds, including relief and education contributions, were held not to be trading receipts because the society did not retain them as income and applied them only for specified statutory or bye-law purposes. By contrast, the cane development fund was held taxable as a trading receipt because it accrued to the assessee and was used for its own benefit. The area development fund, college fund and water scarcity fund were left open or remitted for fresh consideration owing to inadequate material on their nature and utilisation. Case-Laws Income Tax Tue, 28 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10716