https://www.taxtmi.com/caselaws?id=197786 The Tribunal held that CIDCO acts as an agent of the State Government of Maharashtra and its income is not taxable as it is deposited in the Consolidated Fund of the State. The Tribunal emphasized the lack of a commercial motive in CIDCO's activities and its role in city development projects on behalf of the government. The business income assessed on CIDCO was deleted, and the assessing officer was directed to decide on the taxability of remuneration received by CIDCO from the State Government. The Revenue's appeals were allowed in part for statistical purposes, in line with the Tribunal's previous decision. en-us Thu, 18 Dec 2014 00:00:00 +0530 Tue, 16 Jan 2018 09:27:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197786 The Tribunal held that CIDCO acts as an agent of the State Government of Maharashtra and its income is not taxable as it is deposited in the Consolidated Fund of the State. The Tribunal emphasized the lack of a commercial motive in CIDCO's activities and its role in city development projects on behalf of the government. The business income assessed on CIDCO was deleted, and the assessing officer was directed to decide on the taxability of remuneration received by CIDCO from the State Government. The Revenue's appeals were allowed in part for statistical purposes, in line with the Tribunal's previous decision. Case-Laws Income Tax Thu, 18 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197786