https://www.taxtmi.com/caselaws?id=414795 The court ruled in favor of the assessee, a government-owned company, holding that it qualifies for exemption under Section 10(26B) of the Income Tax Act as a body wholly financed by the Government and formed for promoting the interests of Scheduled Castes, Scheduled Tribes, or backward classes. The court upheld the Tribunal's decision granting the exemption, dismissing the Revenue's arguments against it. The court emphasized the inclusive interpretation of the statute to encompass entities like the assessee, formed for the specified purposes. en-us Tue, 14 Sep 2021 00:00:00 +0530 Tue, 16 Nov 2021 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414795 The court ruled in favor of the assessee, a government-owned company, holding that it qualifies for exemption under Section 10(26B) of the Income Tax Act as a body wholly financed by the Government and formed for promoting the interests of Scheduled Castes, Scheduled Tribes, or backward classes. The court upheld the Tribunal's decision granting the exemption, dismissing the Revenue's arguments against it. The court emphasized the inclusive interpretation of the statute to encompass entities like the assessee, formed for the specified purposes. Case-Laws Income Tax Tue, 14 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414795