2004 (9) TMI 6 - SUPREME COURT

Diversion by Overriding Title - whether compulsory deductions made by sugar co-operative societies on account of non-refundable and refundable deposits and other funds are revenue receipts liable to be taxed under the Income-tax Act, 1961. - that the amount collected towards Cane Development Fund shall be treated as the income of the assessees and any claim for deduction shall be entertained and decided by the Tribunal. As regards the Area Development Fund, the matters are remitted to Tribunal