https://www.taxtmi.com/caselaws?id=353932 A development corporation functioning under the Maharashtra Regional and Town Planning Act and government resolutions was treated as an agent and arm of the State Government rather than an independent commercial enterprise. Applying Article 289 of the Constitution, the Tribunal distinguished State activity from a separate trade or business carried on for its own account and noted that the receipts were credited to the Consolidated Fund of the State. On that basis, the income arising from the development activities was not assessable as the corporation's business income, and the Revenue's appeal failed. en-us Thu, 04 Jan 2018 00:00:00 +0530 Mon, 15 Jan 2018 07:43:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353932 A development corporation functioning under the Maharashtra Regional and Town Planning Act and government resolutions was treated as an agent and arm of the State Government rather than an independent commercial enterprise. Applying Article 289 of the Constitution, the Tribunal distinguished State activity from a separate trade or business carried on for its own account and noted that the receipts were credited to the Consolidated Fund of the State. On that basis, the income arising from the development activities was not assessable as the corporation's business income, and the Revenue's appeal failed. Case-Laws Income Tax Thu, 04 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353932