https://www.taxtmi.com/caselaws?id=358081 The assessee was treated as a local authority for income-tax exemption purposes because its constitution, statutory urban-development functions, and control over funds satisfied the statutory description in section 10(20) of the Income-tax Act. The analysis distinguished statutory urban-development activity from profit-oriented commercial activity and treated those functions as akin to State functions. On that basis, the amended definition did not disqualify the assessee, and the claimed exemption remained available despite the Revenue's reliance on Article 289(1) of the Constitution. en-us Tue, 25 Jul 2017 00:00:00 +0530 Thu, 05 Apr 2018 08:24:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358081 The assessee was treated as a local authority for income-tax exemption purposes because its constitution, statutory urban-development functions, and control over funds satisfied the statutory description in section 10(20) of the Income-tax Act. The analysis distinguished statutory urban-development activity from profit-oriented commercial activity and treated those functions as akin to State functions. On that basis, the amended definition did not disqualify the assessee, and the claimed exemption remained available despite the Revenue's reliance on Article 289(1) of the Constitution. Case-Laws Income Tax Tue, 25 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358081