Unutilised Surplus of statutory body not taxable once covered u/s 10(46)

Andhra Pradesh Pollution Control Board Vs DCIT (ITAT Visakhapatnam) ITAT Visakhapatnam quashes revisionary Order – Unutilised Surplus of statutory body not taxable once covered u/s 10(46) In a significant relief to the Andhra Pradesh Pollution Control Board (APPCB), the Visakhapatnam  ITAT has held that surplus amounts of a statutory body notified u/s 10(46) cannot be taxed by invoking provisions of section 10(23C) or section 11, even if part of the accumulation remains unutilized. APPCB, a statutory body, had been approved & enjoying exemption u/s 10(23C) since 2010 & was later...