https://www.taxtmi.com/caselaws?id=14132 The High Court held that only income directly related to specified warehousing activities is exempt under section 10(29) of the Income-tax Act, 1961. The Court referred to Supreme Court precedent to clarify that ancillary income is taxable. The High Court ruled against the corporation, advising the Tribunal to determine income division and expense allocation based on legal principles and precedents. The judgment favored the Revenue, with no costs awarded. en-us Tue, 17 Apr 2001 00:00:00 +0530 Mon, 13 Jul 2009 18:10:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14132 The High Court held that only income directly related to specified warehousing activities is exempt under section 10(29) of the Income-tax Act, 1961. The Court referred to Supreme Court precedent to clarify that ancillary income is taxable. The High Court ruled against the corporation, advising the Tribunal to determine income division and expense allocation based on legal principles and precedents. The judgment favored the Revenue, with no costs awarded. Case-Laws Income Tax Tue, 17 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14132