News agency exemption recognized: Press Trust of India designated with condition that income be used solely for news collection and distribution. The Press Trust of India Limited is specified as a news agency under clause (22B) of Section 10 for the years stated in the notification; the specification requires that the agency apply or accumulate its income solely for collection and distribution of news and prohibits any distribution of income to its members.
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Provisions expressly mentioned in the judgment/order text.
News agency exemption recognized: Press Trust of India designated with condition that income be used solely for news collection and distribution.
The Press Trust of India Limited is specified as a news agency under clause (22B) of Section 10 for the years stated in the notification; the specification requires that the agency apply or accumulate its income solely for collection and distribution of news and prohibits any distribution of income to its members.
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