Court upholds tax exemption for Krishi Utpadan Mandi Samiti under Income Tax Act section 10(20)

The High Court of Allahabad upheld the exemption of Krishi Utpadan Mandi Samiti under section 10(20) of the Income Tax Act, dismissing the appeals filed by the department. The decision was in line with a previous Division Bench ruling.

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The High Court of Allahabad ruled that Krishi Utpadan Mandi Samiti is entitled to exemption under section 10(20) of the Income Tax Act. The appeals filed by the department were dismissed by the Income Tax Tribunal and subsequently by the High Court based on a previous Division Bench decision.

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