https://www.taxtmi.com/caselaws?id=71598 A statutory development corporation with separate corporate existence was treated as distinct from the Government, so extensive governmental control did not by itself confer constitutional tax immunity under Article 288. It also did not qualify as an "authority" constituted for the planning, development or improvement of cities, towns or villages within section 10(20A). Government funds supplied to the corporation were not treated as a revocable transfer under section 63, so income was not taxable in the Government's hands on that basis. However, the corporation's public development objects and absence of profit motive supported exemption under sections 11 to 13. en-us Tue, 25 Jun 1985 00:00:00 +0530 Mon, 13 Jun 2011 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71598 A statutory development corporation with separate corporate existence was treated as distinct from the Government, so extensive governmental control did not by itself confer constitutional tax immunity under Article 288. It also did not qualify as an "authority" constituted for the planning, development or improvement of cities, towns or villages within section 10(20A). Government funds supplied to the corporation were not treated as a revocable transfer under section 63, so income was not taxable in the Government's hands on that basis. However, the corporation's public development objects and absence of profit motive supported exemption under sections 11 to 13. Case-Laws Income Tax Tue, 25 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71598