https://www.taxtmi.com/caselaws?id=177669 The Tribunal upheld the CIT(A)'s decision that funds received and spent for the road construction project were not taxable income as they were utilized for the designated purpose without generating surplus. The Tribunal dismissed the Revenue's appeal, emphasizing that the grant-in-aid for road construction did not constitute revenue receipt and therefore did not form part of total income. The CIT(A)'s findings were supported by detailed evidence, leading to the conclusion that no taxable income arose from the project expenditures. en-us Wed, 04 Apr 2012 00:00:00 +0530 Tue, 04 Jul 2017 10:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177669 The Tribunal upheld the CIT(A)'s decision that funds received and spent for the road construction project were not taxable income as they were utilized for the designated purpose without generating surplus. The Tribunal dismissed the Revenue's appeal, emphasizing that the grant-in-aid for road construction did not constitute revenue receipt and therefore did not form part of total income. The CIT(A)'s findings were supported by detailed evidence, leading to the conclusion that no taxable income arose from the project expenditures. Case-Laws Income Tax Wed, 04 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177669