https://www.taxtmi.com/caselaws?id=121500 The pre-1-4-2003 definition of "local authority" in section 10(20) was not exhaustive and had to be tested under the General Clauses Act, 1897 and Supreme Court functional criteria. Applying those tests, the assessee-Board was treated as a local authority because it had separate corporate existence, control over local funds, defined statutory functions, and administrative authority over market committees under the U.P. Krishi Utpadan Mandi Adhiniyam, 1964. On that legal and factual basis, the exemption under section 10(20) was available for the relevant assessment year. en-us Tue, 24 Mar 2009 00:00:00 +0530 Tue, 31 Jul 2012 11:34:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121500 The pre-1-4-2003 definition of "local authority" in section 10(20) was not exhaustive and had to be tested under the General Clauses Act, 1897 and Supreme Court functional criteria. Applying those tests, the assessee-Board was treated as a local authority because it had separate corporate existence, control over local funds, defined statutory functions, and administrative authority over market committees under the U.P. Krishi Utpadan Mandi Adhiniyam, 1964. On that legal and factual basis, the exemption under section 10(20) was available for the relevant assessment year. Case-Laws Income Tax Tue, 24 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121500