SC Upholds Right to Switch Income Tax Exemption Regime for Statutory Bodies

Central Board of Direct Taxes Ors. Vs Telangana State Pollution Control Board (Supreme Court of India) The Supreme Court considered Special Leave Petitions filed by the Revenue challenging the judgment of the Telangana High Court concerning the entitlement of State Pollution Control Boards to be notified under Section 10(46) of the Income Tax Act, 1961. After hearing the learned Additional Solicitor General and perusing the material on record, the Supreme Court found no reason to interfere with the impugned High Court judgment and dismissed the Special Leave Petitions. Consequently, the High C...