https://www.taxtmi.com/caselaws?id=203600 The High Court ruled in favor of the Revenue, emphasizing consistency in interpreting tax exemption provisions. The Court held that the income claimed as exempt under section 10(29) was considered a trading receipt, not exempt under the provision. The decision highlighted the importance of adhering to precedents and maintaining consistency in denying exemptions for income not falling under specified categories, ultimately favoring the Revenue's stance on the matter. en-us Wed, 09 Feb 2011 00:00:00 +0530 Tue, 07 Jun 2011 15:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203600 The High Court ruled in favor of the Revenue, emphasizing consistency in interpreting tax exemption provisions. The Court held that the income claimed as exempt under section 10(29) was considered a trading receipt, not exempt under the provision. The decision highlighted the importance of adhering to precedents and maintaining consistency in denying exemptions for income not falling under specified categories, ultimately favoring the Revenue's stance on the matter. Case-Laws Income Tax Wed, 09 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203600