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TMI Blog2018 (9) TMI 1031X X X X Extracts X X X X X X X X Extracts X X X X ..... me of the assessee. There is case law that money or payment received in trust and in fiduciary capacity, should not be treated as income earned as has been held in Commissioner of Income-tax Vs. Sandersons and Morgans (1968 (4) TMI 17 - CALCUTTA HIGH COURT). In this case it was observed that solicitor’s lien over the advance money received was no different than a person having charge over someone else money. Money received to be income should have profit making quality in it. Every receipt is not income earned. Reference can be also made to Commissioner of Income-tax, Kerala Vs. Mrs.Doris S. Luiz (1973 (12) TMI 11 - KERALA HIGH COURT). Interest earned during the period relevant to the assessment year but not accounted for in the inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n under Section 80G of the Act. It is an apex body for Indian automobile manufacturers and works for sustainable growth of the automobile industry in India, and focuses on protection of environment, pollution control, safety of automobile vehicle users etc. 3. The first issue raised in this appeal relates to addition of ₹ 1,89,50,318/- made by the Assessing Officer on account of un-utilized funds as on 31st March, 2011, for overseeing the project- A Model Inspection Certification centre at Aniangaon in Chhindwara, Madhya Pradesh on behalf of the Ministry of Road Transport and Highways ('Ministry', for short). 4. The Assessing Officer held that ₹ 2,55,60,000/- received from the Ministry was income/revenue rece ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cidated and highlighted in the appellate orders. We would therefore not upset the finding that the money in the separate bank account in the name of the respondent-assessee was not a grant, but an amount that belonged to the Ministry. This being the position we do not find any merit in the submission made by the Revenue that the amount received from the Ministry belonged to the respondent-assessee and was their income. The amount received in view of the factual findings cannot be treated as revenue receipt or income of the respondent-assessee. 8. There is case law that money or payment received in trust and in fiduciary capacity, should not be treated as income earned as has been held in Commissioner of Income-tax Vs. Sandersons and Mo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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