https://www.taxtmi.com/caselaws?id=338757 The High Court dismissed the appeal, upholding the non-taxable nature of interest earned by a statutory authority on specific projects funded by the State Government. The court also affirmed that the incentive subsidy received by the assessee, acting as a custodian for distribution, was not taxable. The issue of the assessee's treatment as an artificial juridical person was deemed insignificant, and the chargeability of tax on interest amounts derived from State Government funds was rejected. The court found no substantial question of law, leading to the dismissal of the appeal. en-us Thu, 19 May 2016 00:00:00 +0530 Fri, 10 Feb 2017 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338757 The High Court dismissed the appeal, upholding the non-taxable nature of interest earned by a statutory authority on specific projects funded by the State Government. The court also affirmed that the incentive subsidy received by the assessee, acting as a custodian for distribution, was not taxable. The issue of the assessee's treatment as an artificial juridical person was deemed insignificant, and the chargeability of tax on interest amounts derived from State Government funds was rejected. The court found no substantial question of law, leading to the dismissal of the appeal. Case-Laws Income Tax Thu, 19 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338757