https://www.taxtmi.com/caselaws?id=215701 Advancement of funds to the State Government and payment of lease rent did not, on the stated facts, amount to a prohibited benefit, deposit or investment attracting section 13, so exemption under section 11 was not denied. Agricultural income retained its exempt character under section 10(1) once agricultural operations were established, and alleged breaches of forest or other laws did not alter that tax character. Absence of registration under the State endowments law did not bar section 11 relief, because the relevant requirement was compliance with the Income-tax Act. The commentary thus affirms that the Revenue must establish a statutory disqualifying condition before exemption is withdrawn. en-us Fri, 04 May 2012 00:00:00 +0530 Thu, 16 Aug 2012 07:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215701 Advancement of funds to the State Government and payment of lease rent did not, on the stated facts, amount to a prohibited benefit, deposit or investment attracting section 13, so exemption under section 11 was not denied. Agricultural income retained its exempt character under section 10(1) once agricultural operations were established, and alleged breaches of forest or other laws did not alter that tax character. Absence of registration under the State endowments law did not bar section 11 relief, because the relevant requirement was compliance with the Income-tax Act. The commentary thus affirms that the Revenue must establish a statutory disqualifying condition before exemption is withdrawn. Case-Laws Income Tax Fri, 04 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215701