https://www.taxtmi.com/caselaws?id=9868 The court ruled against the assessee-corporation, denying tax exemption under section 10(20) of the Income-tax Act, 1961, as it did not meet the criteria of a 'local authority.' The judgment focused on this issue, referencing precedents to establish the necessary characteristics for qualifying as a 'local authority.' The court's decision favored the Revenue, dismissing the appeal without an order as to costs. The claim for exemption under section 11 of the Act for the assessment year 1977-78 was not conclusively addressed in the judgment. en-us Thu, 17 Aug 2006 00:00:00 +0530 Thu, 02 Jul 2009 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9868 The court ruled against the assessee-corporation, denying tax exemption under section 10(20) of the Income-tax Act, 1961, as it did not meet the criteria of a 'local authority.' The judgment focused on this issue, referencing precedents to establish the necessary characteristics for qualifying as a 'local authority.' The court's decision favored the Revenue, dismissing the appeal without an order as to costs. The claim for exemption under section 11 of the Act for the assessment year 1977-78 was not conclusively addressed in the judgment. Case-Laws Income Tax Thu, 17 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9868