https://www.taxtmi.com/caselaws?id=21164 The High Court held that the interest income received by the authority from fixed deposits in banks was not exempt under section 10(29) of the Income-tax Act, 1961. The Court emphasized that for exemption under this provision, the income must be derived from letting of godowns or warehouses specifically for storage, processing, or facilitating the marketing of commodities. The Court ruled in favor of the Revenue, concluding that the income in question did not meet the criteria for exemption under section 10(29). Both judges concurred with this decision, and the reference was disposed of with no costs incurred. en-us Mon, 08 Feb 1993 00:00:00 +0530 Fri, 20 Nov 2009 15:09:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21164 The High Court held that the interest income received by the authority from fixed deposits in banks was not exempt under section 10(29) of the Income-tax Act, 1961. The Court emphasized that for exemption under this provision, the income must be derived from letting of godowns or warehouses specifically for storage, processing, or facilitating the marketing of commodities. The Court ruled in favor of the Revenue, concluding that the income in question did not meet the criteria for exemption under section 10(29). Both judges concurred with this decision, and the reference was disposed of with no costs incurred. Case-Laws Income Tax Mon, 08 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21164