https://www.taxtmi.com/caselaws?id=180144 The Court dismissed the appeal under section 260-A of the Income Tax Act, 1961, regarding the treatment of grants-in-aid received by a charitable society for sports promotion. Grants for charitable purposes were deemed exempt from income tax, while income from interest was to be considered as income from other sources. The Court affirmed the cash system of accounting and ruled that grants-in-aid for sports advancement were voluntary contributions and not taxable income. The Court found no substantial question of law to address the additional grounds raised by the revenue, ultimately dismissing the appeal. en-us Fri, 12 Dec 2008 00:00:00 +0530 Thu, 17 Mar 2016 17:40:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180144 The Court dismissed the appeal under section 260-A of the Income Tax Act, 1961, regarding the treatment of grants-in-aid received by a charitable society for sports promotion. Grants for charitable purposes were deemed exempt from income tax, while income from interest was to be considered as income from other sources. The Court affirmed the cash system of accounting and ruled that grants-in-aid for sports advancement were voluntary contributions and not taxable income. The Court found no substantial question of law to address the additional grounds raised by the revenue, ultimately dismissing the appeal. Case-Laws Income Tax Fri, 12 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180144