2010 (8) TMI 136 - HC - Income Tax

Exemption u/s 10(22) - Association of persons - Krishi Utpadan Mandi Samiti Held that - Samiti is entitled for exemption under section 10(20) of the Act - In Commissioner of Income Tax Vs. Krishi Utpadan Mandi Samiti 2009 -TMI - 35169 - HIGH COURT OF ALLAHABAD the Division Bench decided has held that the Samiti is entitled for exemption under section 10(20) of the Act

Summary

The High Court of Allahabad ruled that Krishi Utpadan Mandi Samiti is entitled to exemption under section 10(20) of the Income Tax Act. The appeals filed by the department were dismissed by the Income Tax Tribunal and subsequently by the High Court based on a previous Division Bench decision.