https://www.taxtmi.com/caselaws?id=198873 A development authority engaged in acquisition, development, disposal of land and levy of charges was treated as carrying on activities on commercial lines, not for charitable purposes, after the amendment to section 2(15) and the omission of the earlier exemption under section 10(20A). The authority's receipts and the vesting of its assets in the Government, without any binding requirement of permanent charitable application, supported the view that its objects were not irrevocably dedicated to charity. On these facts, the authority did not satisfy the statutory conditions for registration under section 12AA, and cancellation of registration was upheld. en-us Mon, 25 Jul 2016 00:00:00 +0530 Sun, 11 Feb 2018 20:22:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198873 A development authority engaged in acquisition, development, disposal of land and levy of charges was treated as carrying on activities on commercial lines, not for charitable purposes, after the amendment to section 2(15) and the omission of the earlier exemption under section 10(20A). The authority's receipts and the vesting of its assets in the Government, without any binding requirement of permanent charitable application, supported the view that its objects were not irrevocably dedicated to charity. On these facts, the authority did not satisfy the statutory conditions for registration under section 12AA, and cancellation of registration was upheld. Case-Laws Income Tax Mon, 25 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198873