https://www.taxtmi.com/caselaws?id=177672 The Tribunal dismissed all appeals by the Revenue, upholding the CIT(A)'s decision that grants-in-aid and interest received by the trust from the Government were not taxable income. The grants were provided with specific directions for project use, following precedents where such grants were not considered as income. The Tribunal emphasized that the grants and interest were to be utilized for designated projects, not constituting taxable income under the Income-tax Act, 1961. en-us Wed, 21 Dec 2011 00:00:00 +0530 Mon, 28 Aug 2017 20:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177672 The Tribunal dismissed all appeals by the Revenue, upholding the CIT(A)'s decision that grants-in-aid and interest received by the trust from the Government were not taxable income. The grants were provided with specific directions for project use, following precedents where such grants were not considered as income. The Tribunal emphasized that the grants and interest were to be utilized for designated projects, not constituting taxable income under the Income-tax Act, 1961. Case-Laws Income Tax Wed, 21 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177672