https://www.taxtmi.com/caselaws?id=15170 The High Court ruled in favor of the assessee, holding that the amount set apart for the molasses storage reserve fund should be excluded from total income as revenue expenditure. The decision was based on a similar case precedent involving a co-operative society, where funds collected under statutory obligation for a specific purpose were not considered part of the assessee's income. The Tribunal's decision was upheld, and the tax cases were disposed of without costs. en-us Tue, 21 Apr 1998 00:00:00 +0530 Mon, 03 Aug 2009 15:10:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15170 The High Court ruled in favor of the assessee, holding that the amount set apart for the molasses storage reserve fund should be excluded from total income as revenue expenditure. The decision was based on a similar case precedent involving a co-operative society, where funds collected under statutory obligation for a specific purpose were not considered part of the assessee's income. The Tribunal's decision was upheld, and the tax cases were disposed of without costs. Case-Laws Income Tax Tue, 21 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15170