https://www.taxtmi.com/caselaws?id=334101 The High Court of Karnataka ruled in favor of the appellant-society, determining that the interest earned on grants from the government, controlled and utilized as per government directions, cannot be considered income of the appellant. The Court emphasized the custodial role of the appellant and the government's authority over fund utilization, rejecting the concept of diversion of income by overriding title. This decision aligned with previous case law and underscored the significance of government control in defining the nature of funds and interest earned. en-us Wed, 05 Oct 2016 00:00:00 +0530 Tue, 31 Jan 2017 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334101 The High Court of Karnataka ruled in favor of the appellant-society, determining that the interest earned on grants from the government, controlled and utilized as per government directions, cannot be considered income of the appellant. The Court emphasized the custodial role of the appellant and the government's authority over fund utilization, rejecting the concept of diversion of income by overriding title. This decision aligned with previous case law and underscored the significance of government control in defining the nature of funds and interest earned. Case-Laws Income Tax Wed, 05 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334101