https://www.taxtmi.com/caselaws?id=756263 A State-constituted Advocates Welfare Fund was treated as covered by the statutory exemption framework for income-tax purposes, because the Central Advocates Welfare Fund Act, 2001 did not extend to States where the enactments in Schedule II were already applicable, including Tamil Nadu, and section 23 of the Central Act recognised income-tax exemption for the State fund. On that basis, receipts from welfare fund stamps, subscriptions, interest and grants were not treated as business income, and the restrictive proviso to section 2(15) was held inapplicable. The fund was therefore entitled to exemption under section 11. en-us Wed, 24 Jul 2024 00:00:00 +0530 Wed, 31 Jul 2024 08:36:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756263 A State-constituted Advocates Welfare Fund was treated as covered by the statutory exemption framework for income-tax purposes, because the Central Advocates Welfare Fund Act, 2001 did not extend to States where the enactments in Schedule II were already applicable, including Tamil Nadu, and section 23 of the Central Act recognised income-tax exemption for the State fund. On that basis, receipts from welfare fund stamps, subscriptions, interest and grants were not treated as business income, and the restrictive proviso to section 2(15) was held inapplicable. The fund was therefore entitled to exemption under section 11. Case-Laws Income Tax Wed, 24 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756263