https://www.taxtmi.com/caselaws?id=161395 Market committees constituted under the Rajasthan Agricultural Produce Markets Act were treated as institutions advancing an object of general public utility, so their assessments had to be examined under sections 11, 12 and 13 of the Income-tax Act after section 12A registration. The Court also held that a non-refundable statutory contribution to the Agricultural Marketing Board, and expenditure on construction and repair works incurred to implement the statutory scheme, constituted application of income for charitable purposes under section 11(1)(a). Such application was not confined to the committee's local jurisdiction, and the Revenue could not insist that the Board itself spend the funds within the same year. en-us Tue, 27 Jan 2009 00:00:00 +0530 Wed, 19 Nov 2014 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161395 Market committees constituted under the Rajasthan Agricultural Produce Markets Act were treated as institutions advancing an object of general public utility, so their assessments had to be examined under sections 11, 12 and 13 of the Income-tax Act after section 12A registration. The Court also held that a non-refundable statutory contribution to the Agricultural Marketing Board, and expenditure on construction and repair works incurred to implement the statutory scheme, constituted application of income for charitable purposes under section 11(1)(a). Such application was not confined to the committee's local jurisdiction, and the Revenue could not insist that the Board itself spend the funds within the same year. Case-Laws Income Tax Tue, 27 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161395