https://www.taxtmi.com/caselaws?id=794454 Interest credited to development funds was treated as not taxable in the assessee's hands where the assessee acted only as a nodal or implementing agency and the funds were retained and applied in accordance with governmental directions, consistent with earlier appellate orders. Expenditure on promotional and developmental activities was also allowed because the assessee was notified for the purpose of section 36(1)(xii) from financial year 2012-13 and the activities fell within the statutory objects covered by that notification. The appellate order deleting both additions was therefore affirmed in the underlying discussion. en-us Tue, 02 Jun 2026 00:00:00 +0530 Mon, 06 Jul 2026 08:26:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794454 Interest credited to development funds was treated as not taxable in the assessee's hands where the assessee acted only as a nodal or implementing agency and the funds were retained and applied in accordance with governmental directions, consistent with earlier appellate orders. Expenditure on promotional and developmental activities was also allowed because the assessee was notified for the purpose of section 36(1)(xii) from financial year 2012-13 and the activities fell within the statutory objects covered by that notification. The appellate order deleting both additions was therefore affirmed in the underlying discussion. Case-Laws Income Tax Tue, 02 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794454