https://www.taxtmi.com/caselaws?id=76607 Interest earned on government grant funds was treated as income derived from property held under trust for charitable purposes because the funds themselves formed trust property and the interest had a direct nexus with that property. The same reasoning was applied to income from the sale of solar cookers and related equipment developed by the assessee. Authorities cited by the Revenue were distinguished as they concerned different exemption language based on income from a specified source, not the governing test under section 11(1)(a). The exemption claim was upheld and the Revenue's appeal failed, with no substantial question of law arising. en-us Fri, 31 Jul 2009 00:00:00 +0530 Wed, 07 Sep 2011 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76607 Interest earned on government grant funds was treated as income derived from property held under trust for charitable purposes because the funds themselves formed trust property and the interest had a direct nexus with that property. The same reasoning was applied to income from the sale of solar cookers and related equipment developed by the assessee. Authorities cited by the Revenue were distinguished as they concerned different exemption language based on income from a specified source, not the governing test under section 11(1)(a). The exemption claim was upheld and the Revenue's appeal failed, with no substantial question of law arising. Case-Laws Income Tax Fri, 31 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76607