https://www.taxtmi.com/caselaws?id=60816 The Appellate Tribunal upheld the decision of the Commissioner (Appeals) in a dispute over exemption under section 10(26B) of the Income-tax Act, 1961. The Tribunal ruled in favor of the assessee, a company established by the Haryana Government for the welfare of Scheduled Castes, holding that the entire income was exempt from tax under section 10(26B). Despite the revenue's argument that the assessee was not wholly financed by the Government, the Tribunal found evidence supporting full government financing, qualifying the assessee for the exemption. The Tribunal emphasized that the assessee's establishment and financing aligned with the purpose of the provision, ultimately dismissing the revenue's appeal. en-us Tue, 14 Jun 1983 00:00:00 +0530 Sat, 08 Jan 2011 11:51:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60816 The Appellate Tribunal upheld the decision of the Commissioner (Appeals) in a dispute over exemption under section 10(26B) of the Income-tax Act, 1961. The Tribunal ruled in favor of the assessee, a company established by the Haryana Government for the welfare of Scheduled Castes, holding that the entire income was exempt from tax under section 10(26B). Despite the revenue's argument that the assessee was not wholly financed by the Government, the Tribunal found evidence supporting full government financing, qualifying the assessee for the exemption. The Tribunal emphasized that the assessee's establishment and financing aligned with the purpose of the provision, ultimately dismissing the revenue's appeal. Case-Laws Income Tax Tue, 14 Jun 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60816