https://www.taxtmi.com/caselaws?id=791346 Fly ash sale receipts arising incidentally from power generation were held to accrue directly to the assessee as business income. A government notification directing that the proceeds be credited to a separate fund affected only the use of income after accrual and did not create an enforceable diversion at source or a liability in favour of a third party. The accounting entry by itself could not alter the substantive tax character of the receipt. The prior authority relied on was found distinguishable on the facts, and the receipts remained taxable as business income. en-us Mon, 27 Apr 2026 00:00:00 +0530 Sat, 09 May 2026 07:13:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791346 Fly ash sale receipts arising incidentally from power generation were held to accrue directly to the assessee as business income. A government notification directing that the proceeds be credited to a separate fund affected only the use of income after accrual and did not create an enforceable diversion at source or a liability in favour of a third party. The accounting entry by itself could not alter the substantive tax character of the receipt. The prior authority relied on was found distinguishable on the facts, and the receipts remained taxable as business income. Case-Laws Income Tax Mon, 27 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791346