https://www.taxtmi.com/caselaws?id=67477 The Tribunal interpreted section 10(17B) of the Income Tax Act, ruling that rewards must be approved by the Central Government for tax exemption, not solely by State Governments. The case involved an assessee claiming exemption for a cash prize received as an authorized agent under a government scheme. The Tribunal emphasized the Central Government's authority in approving rewards for public interest and allowed a deduction of 50% of the gross commission as per CBDT circulars, determining the reward as part of the assessee's commission income. The appeal was decided in favor of the assessee. en-us Thu, 26 Sep 1991 00:00:00 +0530 Thu, 10 Mar 2011 17:41:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67477 The Tribunal interpreted section 10(17B) of the Income Tax Act, ruling that rewards must be approved by the Central Government for tax exemption, not solely by State Governments. The case involved an assessee claiming exemption for a cash prize received as an authorized agent under a government scheme. The Tribunal emphasized the Central Government's authority in approving rewards for public interest and allowed a deduction of 50% of the gross commission as per CBDT circulars, determining the reward as part of the assessee's commission income. The appeal was decided in favor of the assessee. Case-Laws Income Tax Thu, 26 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67477