https://www.taxtmi.com/caselaws?id=175765 The Tribunal ruled in favor of the assessee, dismissing the Revenue's appeal and allowing the assessee's cross-objection. They held that the grants received from the government are not taxable income under sections 11 and 12. The interest earned on these grants is also exempt. Amounts allocated but not disbursed due to the model code of conduct are considered applied towards charitable objects. The Tribunal found the revised Form No.10 unnecessary for the grants but required for unspent amounts under AOE and IEC. en-us Fri, 30 Jul 2010 00:00:00 +0530 Fri, 04 Dec 2015 15:58:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175765 The Tribunal ruled in favor of the assessee, dismissing the Revenue's appeal and allowing the assessee's cross-objection. They held that the grants received from the government are not taxable income under sections 11 and 12. The interest earned on these grants is also exempt. Amounts allocated but not disbursed due to the model code of conduct are considered applied towards charitable objects. The Tribunal found the revised Form No.10 unnecessary for the grants but required for unspent amounts under AOE and IEC. Case-Laws Income Tax Fri, 30 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175765