https://www.taxtmi.com/caselaws?id=179819 Contributions made by the market committee to the Rajasthan State Agriculture Marketing Board under the statutory market scheme were treated as application of income because the amounts were earmarked for specified statutory purposes and were not refundable. On that basis, the Tribunal applied commercial principles rather than artificial income computation under the Income-tax Act, held that no tax was required to be deducted at source on such payments, and concluded that section 40(a)(ia) did not apply. en-us Wed, 10 Oct 2012 00:00:00 +0530 Mon, 22 Jan 2018 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179819 Contributions made by the market committee to the Rajasthan State Agriculture Marketing Board under the statutory market scheme were treated as application of income because the amounts were earmarked for specified statutory purposes and were not refundable. On that basis, the Tribunal applied commercial principles rather than artificial income computation under the Income-tax Act, held that no tax was required to be deducted at source on such payments, and concluded that section 40(a)(ia) did not apply. Case-Laws Income Tax Wed, 10 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179819