Exemption under section 10(26B)


Last updated: 22 January 2008

Court :
HC

Brief :
On consideration of the background under which the assessee-Corporation came into being and taking into account the provisions under articles 46 and 47 of the Constitution, it was clear that the assessee was primarily formed to ameliorate the suffering of the tribal population of the Arunachal Pradesh and for ushering the concept of developmental activities in the State. In the facts and circumstances of the instant case, a restricted interpretation of clause (26B) of section 10 was not called for.

Citation :
Arunachal Pradesh Forest Corporation Ltd v. Assistant Commissioner of Income-tax IT APPEAL NOS. 42, 44 TO 47 OF 2004 DECIDED ON 28-2- 2007

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