https://www.taxtmi.com/caselaws?id=300192 The Tribunal ruled in favor of the assessee, a governmental nodal agency, determining that the interest earned on temporarily parked funds should not be taxed. The Tribunal applied the decision of the Karnataka High Court in the KUIDFC case, emphasizing similarities between the activities and ownership structures of the parties involved. Consequently, the appeals of the assessee were allowed, and the interest income was deemed non-taxable, aligning with the precedent set by the KUIDFC case. en-us Fri, 31 Oct 2014 00:00:00 +0530 Fri, 02 Sep 2022 09:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300192 The Tribunal ruled in favor of the assessee, a governmental nodal agency, determining that the interest earned on temporarily parked funds should not be taxed. The Tribunal applied the decision of the Karnataka High Court in the KUIDFC case, emphasizing similarities between the activities and ownership structures of the parties involved. Consequently, the appeals of the assessee were allowed, and the interest income was deemed non-taxable, aligning with the precedent set by the KUIDFC case. Case-Laws Income Tax Fri, 31 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300192