https://www.taxtmi.com/caselaws?id=36769 Section 10(29) of the Income-tax Act, 1961 was interpreted to cover a State Warehousing Corporation constituted under the Warehousing Corporations Act, 1962, because its statutory functions include warehousing, storage, transport, and agency for purchase, sale and distribution of commodities. The expression "for the marketing of commodities" was given a wide, beneficial meaning, since storage, processing and transport are integral to the marketing process and enhance commodity value. Legislative history and the earlier exemption scheme supported this construction, leading to the conclusion that income from letting godowns and warehouses used for those purposes is exempt. en-us Tue, 19 Jul 1977 00:00:00 +0530 Wed, 24 Mar 2010 13:30:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36769 Section 10(29) of the Income-tax Act, 1961 was interpreted to cover a State Warehousing Corporation constituted under the Warehousing Corporations Act, 1962, because its statutory functions include warehousing, storage, transport, and agency for purchase, sale and distribution of commodities. The expression "for the marketing of commodities" was given a wide, beneficial meaning, since storage, processing and transport are integral to the marketing process and enhance commodity value. Legislative history and the earlier exemption scheme supported this construction, leading to the conclusion that income from letting godowns and warehouses used for those purposes is exempt. Case-Laws Income Tax Tue, 19 Jul 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36769