https://www.taxtmi.com/caselaws?id=18991 The court held that the amount of Rs. 43,633, transferred to the storage fund for molasses and alcohol, did not form part of the assessee's income for the assessment year 1974-75. The court found that the statutory diversion at source meant the amount did not constitute real income for the assessee. Additionally, the court ruled in favor of the assessee in deleting the disallowance of Rs. 16,041 under Section 40A(5) of the Income-tax Act, 1961, based on precedent decisions. No costs were awarded. 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 The court held that the amount of Rs. 43,633, transferred to the storage fund for molasses and alcohol, did not form part of the assessee's income for the assessment year 1974-75. The court found that the statutory diversion at source meant the amount did not constitute real income for the assessee. Additionally, the court ruled in favor of the assessee in deleting the disallowance of Rs. 16,041 under Section 40A(5) of the Income-tax Act, 1961, based on precedent decisions. No costs were awarded. Case-Laws Income Tax Fri, 03 Dec 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18991