https://www.taxtmi.com/caselaws?id=27147 The High Court of Delhi ruled in favor of the assessee, holding that the Central Warehousing Corporation qualifies as an "authority" under section 10(29) of the Income-tax Act, 1961. The court determined that income derived from letting out godowns or warehouses for storage, processing, or marketing of commodities is exempt under this provision. Citing precedents from other High Courts, the judgment emphasized the similarity in functions between Central and State Warehousing Corporations, affirming the entitlement to exemption. The court rejected attempts to distinguish relevant judgments and concluded in favor of the assessee, directing each party to bear their own costs. en-us Fri, 06 Jan 1984 00:00:00 +0530 Thu, 11 Feb 2010 10:43:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27147 The High Court of Delhi ruled in favor of the assessee, holding that the Central Warehousing Corporation qualifies as an "authority" under section 10(29) of the Income-tax Act, 1961. The court determined that income derived from letting out godowns or warehouses for storage, processing, or marketing of commodities is exempt under this provision. Citing precedents from other High Courts, the judgment emphasized the similarity in functions between Central and State Warehousing Corporations, affirming the entitlement to exemption. The court rejected attempts to distinguish relevant judgments and concluded in favor of the assessee, directing each party to bear their own costs. Case-Laws Income Tax Fri, 06 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27147