https://www.taxtmi.com/caselaws?id=196541 Exemption under section 10(20A) of the Income-tax Act, 1961 was unavailable because the claimant was not itself an authority constituted by or under an enactment in India. The entity was incorporated as a company under the Companies Act, 1956, and no notification under section 3 of the U.P. Industrial Development Act, 1962 was produced to show constitution under that law. The requirement under section 10(20A) is cumulative: the body must both be constituted by law and be established for planning, development or improvement of cities, towns or villages. Although industrial development activities may satisfy the public-purpose limb, incorporation as a company was insufficient. The exemption claim therefore failed. en-us Tue, 05 Jul 2016 00:00:00 +0530 Tue, 05 Dec 2017 22:03:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196541 Exemption under section 10(20A) of the Income-tax Act, 1961 was unavailable because the claimant was not itself an authority constituted by or under an enactment in India. The entity was incorporated as a company under the Companies Act, 1956, and no notification under section 3 of the U.P. Industrial Development Act, 1962 was produced to show constitution under that law. The requirement under section 10(20A) is cumulative: the body must both be constituted by law and be established for planning, development or improvement of cities, towns or villages. Although industrial development activities may satisfy the public-purpose limb, incorporation as a company was insufficient. The exemption claim therefore failed. Case-Laws Income Tax Tue, 05 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196541