https://www.taxtmi.com/caselaws?id=18991 A statutory amount compulsorily earmarked from the sale price for a storage fund under the Ethyl Alcohol (Price Control) Amendment Order, 1971 was held not to form part of taxable income, because the assessee had no unfettered dominion over the sum and the amount was diverted at source for a specific statutory purpose. The deletion of the disallowance under section 40A(5) of the Income-tax Act, 1961 was also upheld, as the issue was governed by prior binding decisions of the same court. The reference was therefore disposed of in favour of the assessee on both questions. en-us Fri, 03 Dec 1993 00:00:00 +0530 Tue, 03 Nov 2009 12:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18991 A statutory amount compulsorily earmarked from the sale price for a storage fund under the Ethyl Alcohol (Price Control) Amendment Order, 1971 was held not to form part of taxable income, because the assessee had no unfettered dominion over the sum and the amount was diverted at source for a specific statutory purpose. The deletion of the disallowance under section 40A(5) of the Income-tax Act, 1961 was also upheld, as the issue was governed by prior binding decisions of the same court. The reference was therefore disposed of in favour of the assessee on both questions. Case-Laws Income Tax Fri, 03 Dec 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18991