https://www.taxtmi.com/caselaws?id=21076 The High Court ruled in favor of the Corporation, finding that the kist money received before the operational transfer date belonged to the State Government and should not be assessed as the Corporation's income for the relevant assessment year under the Income-tax Act, 1961. The Court upheld the Tribunal's decision, emphasizing the agency relationship between the Corporation and the State Government regarding the pre-existing dues, leading to the non-taxability of those amounts in the Corporation's hands. en-us Thu, 29 Oct 1992 00:00:00 +0530 Thu, 19 Nov 2009 17:54:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21076 The High Court ruled in favor of the Corporation, finding that the kist money received before the operational transfer date belonged to the State Government and should not be assessed as the Corporation's income for the relevant assessment year under the Income-tax Act, 1961. The Court upheld the Tribunal's decision, emphasizing the agency relationship between the Corporation and the State Government regarding the pre-existing dues, leading to the non-taxability of those amounts in the Corporation's hands. Case-Laws Income Tax Thu, 29 Oct 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21076