https://www.taxtmi.com/caselaws?id=208084 The court ruled against the petitioner, a statutory body under the Warehousing Corporation Act, in a tax dispute. The Assessing Officer's initial acceptance of exemption under Section 10(29) of the Income Tax Act was overturned by the Commissioner, leading to taxation of income beyond letting out of godowns. The petitioner's request for interest waiver based on CBDT circulars and a High Court judgment was rejected, as Supreme Court decisions clarified the taxable nature of the additional income. The court emphasized that income not from letting out godowns was taxable, denying the waiver and dismissing the petitions. en-us Fri, 28 Jan 2011 00:00:00 +0530 Wed, 04 Jan 2012 08:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208084 The court ruled against the petitioner, a statutory body under the Warehousing Corporation Act, in a tax dispute. The Assessing Officer's initial acceptance of exemption under Section 10(29) of the Income Tax Act was overturned by the Commissioner, leading to taxation of income beyond letting out of godowns. The petitioner's request for interest waiver based on CBDT circulars and a High Court judgment was rejected, as Supreme Court decisions clarified the taxable nature of the additional income. The court emphasized that income not from letting out godowns was taxable, denying the waiver and dismissing the petitions. Case-Laws Income Tax Fri, 28 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208084