https://www.taxtmi.com/caselaws?id=438685 The Tribunal ruled in favor of the appellant, a State Level Nodal Agency, determining that grants received for specific infrastructure projects were not income under sections 11(1)(d) and 12(1) of the Income Tax Act. The Tribunal held that the grants were not part of the appellant's corpus, were not income, and were not voluntary contributions. Consequently, the additions made by the Assessing Officer and CIT(A) were overturned, and the appeal was allowed. en-us Fri, 12 May 2023 00:00:00 +0530 Wed, 07 Jun 2023 08:50:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438685 The Tribunal ruled in favor of the appellant, a State Level Nodal Agency, determining that grants received for specific infrastructure projects were not income under sections 11(1)(d) and 12(1) of the Income Tax Act. The Tribunal held that the grants were not part of the appellant's corpus, were not income, and were not voluntary contributions. Consequently, the additions made by the Assessing Officer and CIT(A) were overturned, and the appeal was allowed. Case-Laws Income Tax Fri, 12 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438685