Molasses storage fund collected out of sale proceeds of molasses as per law cannot be included in Income of Assessee

Issue- Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the sum of Rs. 10,69,542 credited to molasses storage fund out of the sale proceeds of molasses was to be included in the income of the appellant ? Amounts were collected as per the directions given by the Molasses Control (Amendment) Order, it goes to the molasses storage fund over which the assessed has no control and domain. Inasmuch as the assessed cannot utilise the same for its own business purpose, we have also here to hold that there is diversion by overriding title at the s...