https://www.taxtmi.com/caselaws?id=9013 Section 10(29) was construed purposively to extend exemption to a juristic entity constituted by law for marketing commodities, and the word "authority" was not confined to a body with quasi-governmental powers. The expression "marketing of commodities" was given a broad meaning to include storage, warehousing, transport, grading and distribution, not merely buying and selling. On that interpretation, a State Warehousing Corporation established under the Warehousing Corporations Act, 1962, and engaged in warehousing and allied transport of agricultural produce, fell within the provision. Income from letting godowns and warehouses used for those activities was therefore exempt. en-us Fri, 30 Nov 1973 00:00:00 +0530 Thu, 18 Jun 2009 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9013 Section 10(29) was construed purposively to extend exemption to a juristic entity constituted by law for marketing commodities, and the word "authority" was not confined to a body with quasi-governmental powers. The expression "marketing of commodities" was given a broad meaning to include storage, warehousing, transport, grading and distribution, not merely buying and selling. On that interpretation, a State Warehousing Corporation established under the Warehousing Corporations Act, 1962, and engaged in warehousing and allied transport of agricultural produce, fell within the provision. Income from letting godowns and warehouses used for those activities was therefore exempt. Case-Laws Income Tax Fri, 30 Nov 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9013