https://www.taxtmi.com/caselaws?id=70103 Section 10(29) exemption was confined to income derived directly from the activity of letting out warehouses for storage, processing or facilitating the marketing of commodities. The phrase "derived from" was applied in a restricted sense, so only receipts with the warehouse activity as their immediate and effective source qualified. Interest on deposits, loans and advances to staff, belated refund interest and similar receipts were treated as arising from independent sources, not from the eligible activity. The later Supreme Court ruling in Orissa State Warehousing Corpn. was applied, and the contrary view taken earlier in the assessee's own case was not followed. The impugned receipts were therefore held not to qualify for exemption. en-us Mon, 31 Jul 2000 00:00:00 +0530 Thu, 14 Apr 2011 13:07:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70103 Section 10(29) exemption was confined to income derived directly from the activity of letting out warehouses for storage, processing or facilitating the marketing of commodities. The phrase "derived from" was applied in a restricted sense, so only receipts with the warehouse activity as their immediate and effective source qualified. Interest on deposits, loans and advances to staff, belated refund interest and similar receipts were treated as arising from independent sources, not from the eligible activity. The later Supreme Court ruling in Orissa State Warehousing Corpn. was applied, and the contrary view taken earlier in the assessee's own case was not followed. The impugned receipts were therefore held not to qualify for exemption. Case-Laws Income Tax Mon, 31 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70103