https://www.taxtmi.com/caselaws?id=244252 The Court dismissed the Tax Appeal, upholding the ITAT's decision to delete the addition of a grant claimed as income under Section 11(1) Explanation 2 of the Income Tax Act. The Court held that the grant received by the appellant from the State Government, which was distributed to blood banks, cannot be classified as income based on precedents. Therefore, the addition made by the Assessing Officer was rightly deleted by the ITAT, as the grant cannot be considered as part of the appellant's income. en-us Wed, 18 Dec 2013 00:00:00 +0530 Fri, 21 Feb 2014 09:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244252 The Court dismissed the Tax Appeal, upholding the ITAT's decision to delete the addition of a grant claimed as income under Section 11(1) Explanation 2 of the Income Tax Act. The Court held that the grant received by the appellant from the State Government, which was distributed to blood banks, cannot be classified as income based on precedents. Therefore, the addition made by the Assessing Officer was rightly deleted by the ITAT, as the grant cannot be considered as part of the appellant's income. Case-Laws Income Tax Wed, 18 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244252