https://www.taxtmi.com/caselaws?id=469932 An agricultural produce market committee was treated as entitled to exemption on its entire income under section 10(26AAB), because that provision specifically covers income of a committee constituted to regulate marketing of agricultural produce. On that basis, the income was not includible in total income, and the earlier section 12A registration and the section 11 controversy became irrelevant for tax computation. The Tribunal held that the proviso to section 2(15) could not be used to deny the specific exemption in these facts, so the Revenue's challenge failed and the assessment based on denial of exemption was annulled. en-us Wed, 29 Jan 2025 00:00:00 +0530 Thu, 09 Jul 2026 20:20:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469932 An agricultural produce market committee was treated as entitled to exemption on its entire income under section 10(26AAB), because that provision specifically covers income of a committee constituted to regulate marketing of agricultural produce. On that basis, the income was not includible in total income, and the earlier section 12A registration and the section 11 controversy became irrelevant for tax computation. The Tribunal held that the proviso to section 2(15) could not be used to deny the specific exemption in these facts, so the Revenue's challenge failed and the assessment based on denial of exemption was annulled. Case-Laws Income Tax Wed, 29 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469932