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TMI Blog2011 (1) TMI 887X X X X Extracts X X X X X X X X Extracts X X X X ..... sthan State Warehousing Corporation (1999 -TMI - 5742 - SUPREME Court) as well as the provision of Section 10(29), the income other than the income from letting of godown etc. was not exempt - There was no earlier judgment taking the view that such income was exempt - decided against of assessee. - CWP No. 21169 of 2010 (O&M) - - - Dated:- 28-1-2011 - MR. JUSTICE ADARSH KUMAR GOEL, MR. JUSTI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner was held to be liable to pay tax with interest under Section 234B of the Act on income which was taxable. It sought waiver of interest on the basis of circular dated 23.5.1996 read with circular dated 11.1.1997 issued by the CBDT laying down that if exemption from income tax is granted on the basis of order of the jurisdictional High Court, the interest component could be waived if such inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... down that the income now taxed was exempt. The income other than the income from letting out of storage etc. was taxable as held by the Hon'ble Supreme Court in Orissa State Warehousing Corporation and Rajasthan State Warehousing Corporation v. Commissioner of Income-tax (1999) 237 ITR 589. 3. We have heard learned counsel for the parties. 4. It is not disputed by learned counsel for the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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