https://www.taxtmi.com/caselaws?id=398158 Infrastructure development charges pooled by the State for a specific public purpose were treated as State money under the statutory scheme, so they were not regarded as income of a separate taxable entity for the earlier years; the related interest on fixed deposits earned from those receipts also retained the same character and was not taxable. For the later year, delayed filing of Form 10 did not by itself defeat accumulation under section 11(2), because the filing requirement was treated as directory in the circumstances and the assessee's substantive claim was otherwise established. Relief was therefore available on both issues. en-us Fri, 31 Jul 2020 00:00:00 +0530 Tue, 08 Sep 2020 10:31:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398158 Infrastructure development charges pooled by the State for a specific public purpose were treated as State money under the statutory scheme, so they were not regarded as income of a separate taxable entity for the earlier years; the related interest on fixed deposits earned from those receipts also retained the same character and was not taxable. For the later year, delayed filing of Form 10 did not by itself defeat accumulation under section 11(2), because the filing requirement was treated as directory in the circumstances and the assessee's substantive claim was otherwise established. Relief was therefore available on both issues. Case-Laws Income Tax Fri, 31 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398158