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Income Tax - Highlights / Catch Notes

Home Highlights December 2024 Year 2024 This

Interest income earned from grants made by the Government for ...


Municipal Corporation earns interest on govt grants for police buildings, taxed as other income.

December 19, 2024

Case Laws     Income Tax     SC

Interest income earned from grants made by the Government for construction of police department buildings treated as income from other sources by HC. SLP dismissed by SC due to 364 days' delay in filing, unexplained satisfactorily.

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