TMI Blog1991 (3) TMI 34X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome-tax Appellate Tribunal has stated the following questions one relating to the assessment year 1973-74 and the other relating to the assessment year 1974-75. They read as follows : Assessment year 1973-74 : "Whether, on the facts and in the circumstances of the case, the Tribunal was legally correct in holding that the assessee's income from miscellaneous receipts was exempt from tax with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d "Miscellaneous receipts". Similarly, during the previous year relevant to the assessment year 1974-75, it derived certain income from miscellaneous receipts and by way of commission on procurement of wheat for and on behalf of the Food Corporation of India. It claimed that the income so received is exempt under clause (29) of section 10 of the Act. Section 10(29) reads as under : "10. In compu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted under any law for the marketing of commodities. That it does satisfy this requirement is established by a decision of this court in U. P. State Warehousing Corporation v. ITO [1974] 94 ITR 129, which is affirmed by the Supreme Court "in its decision in Union of India v. U. P. State Warehousing Corporation [1991] 187 ITR 54. The second question is whether the income derived from the aforesaid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om warehousing. Once this is so, it is evident that though called miscellaneous receipts, they are in truth income derived from letting warehousing for storage, processing and facilitating the marketing of commodities. So far as the commission received by the assessee is concerned, it is dealt with in para 4 of the Tribunal's order. The Tribunal held that commission was received both for procuring ..... X X X X Extracts X X X X X X X X Extracts X X X X
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