https://www.taxtmi.com/caselaws?id=301792 Contribution collected by an insurer under the statutory scheme of the Public Liability Insurance Act, 1991 for remittance to the Environment Relief Fund was treated as a current liability and not as income. The insurer acted only as a collector and remitter on behalf of the insured, and the amount was not routed through the profit and loss account. As the collection never became the assessee's receipt, section 43B of the Income-tax Act had no application, and the amount was also not a cess for the purpose considered by the lower authority. The disallowance under section 43B was therefore deleted. en-us Tue, 21 Jan 2020 00:00:00 +0530 Wed, 20 Apr 2022 20:11:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301792 Contribution collected by an insurer under the statutory scheme of the Public Liability Insurance Act, 1991 for remittance to the Environment Relief Fund was treated as a current liability and not as income. The insurer acted only as a collector and remitter on behalf of the insured, and the amount was not routed through the profit and loss account. As the collection never became the assessee's receipt, section 43B of the Income-tax Act had no application, and the amount was also not a cess for the purpose considered by the lower authority. The disallowance under section 43B was therefore deleted. Case-Laws Income Tax Tue, 21 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301792