https://www.taxtmi.com/highlights?id=101411 Interest differential credited to statutory development funds was treated as diverted at source under the scheme directions, so it was not taxable in the assessee's hands; the Tribunal followed its earlier orders in the assessee's own case and noted that the assessee acted only as a nodal or implementing agency. Promotional and developmental expenditure was also allowed because the assessee had been notified from financial year 2012-13, applicable from assessment year 2013-14, so the basis of disallowance failed. The Revenue's appeal was dismissed and the appellate order was upheld in full. en-us Mon, 06 Jul 2026 08:26:30 +0530 Mon, 06 Jul 2026 08:26:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=101411 Interest differential credited to statutory development funds was treated as diverted at source under the scheme directions, so it was not taxable in the assessee's hands; the Tribunal followed its earlier orders in the assessee's own case and noted that the assessee acted only as a nodal or implementing agency. Promotional and developmental expenditure was also allowed because the assessee had been notified from financial year 2012-13, applicable from assessment year 2013-14, so the basis of disallowance failed. The Revenue's appeal was dismissed and the appellate order was upheld in full. Highlights Income Tax Mon, 06 Jul 2026 08:26:30 +0530 https://www.taxtmi.com/highlights?id=101411