https://www.taxtmi.com/caselaws?id=60877 Exemption under section 10(29) was confined to income derived from letting of godowns or warehouses for storage, processing or facilitating the marketing of commodities, so bank interest, application fees, hire charges and similar miscellaneous receipts were taxable and not covered by the provision. The scope of the exemption was not enlarged by section 24(d) of the Warehousing Corporations Act, 1962. On expenditure, the assessee's activities were treated as an inseparable common business structure, so the related expenditure could not be bifurcated between exempt and taxable streams; the full expenditure was allowable and the proposed disallowance failed. en-us Wed, 14 Jul 1993 00:00:00 +0530 Sat, 08 Jan 2011 14:08:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60877 Exemption under section 10(29) was confined to income derived from letting of godowns or warehouses for storage, processing or facilitating the marketing of commodities, so bank interest, application fees, hire charges and similar miscellaneous receipts were taxable and not covered by the provision. The scope of the exemption was not enlarged by section 24(d) of the Warehousing Corporations Act, 1962. On expenditure, the assessee's activities were treated as an inseparable common business structure, so the related expenditure could not be bifurcated between exempt and taxable streams; the full expenditure was allowable and the proposed disallowance failed. Case-Laws Income Tax Wed, 14 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60877