https://www.taxtmi.com/caselaws?id=275268 The Tribunal determined that the interest income earned on government grants parked in FDs should not be treated as taxable income. It found the Karnataka HC decision in the KUIDFC case applicable, as both entities are government-owned and engaged in welfare activities. The Tribunal admitted additional evidence supporting the assessee's stance, leading to the allowance of the appeal and excluding the interest income from taxation. en-us Fri, 20 Dec 2013 00:00:00 +0530 Wed, 04 Sep 2024 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275268 The Tribunal determined that the interest income earned on government grants parked in FDs should not be treated as taxable income. It found the Karnataka HC decision in the KUIDFC case applicable, as both entities are government-owned and engaged in welfare activities. The Tribunal admitted additional evidence supporting the assessee's stance, leading to the allowance of the appeal and excluding the interest income from taxation. Case-Laws Income Tax Fri, 20 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275268