https://www.taxtmi.com/caselaws?id=21009 The High Court ruled in favor of the assessee, holding that the surplus amount in the 'under charges account' was not taxable income as it was received in a fiduciary capacity and not as trading receipts. The decision aligned with previous court precedents and established that such amounts were accountable to consumers, not business benefits, making them non-taxable. The court certified the case for appeal to the Supreme Court due to pending issues on the assessability of such sums. en-us Mon, 22 Jul 1991 00:00:00 +0530 Wed, 18 Nov 2009 16:22:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21009 The High Court ruled in favor of the assessee, holding that the surplus amount in the 'under charges account' was not taxable income as it was received in a fiduciary capacity and not as trading receipts. The decision aligned with previous court precedents and established that such amounts were accountable to consumers, not business benefits, making them non-taxable. The court certified the case for appeal to the Supreme Court due to pending issues on the assessability of such sums. Case-Laws Income Tax Mon, 22 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21009