https://www.taxtmi.com/caselaws?id=289374 A statutory urban development authority constituted for planned urban development was treated as pursuing an object of general public utility under section 2(15) of the Income-tax Act, 1961, because its development, allotment and auction activities did not by themselves amount to trade, commerce or business or show a profit motive; registration under section 12A could not be denied on that basis. Non-filing of audited accounts also did not justify rejection under rule 17A of the Income-tax Rules, 1962, because audited accounts were not a mandatory condition for refusal on the ground invoked by the authorities. The adverse orders were set aside and registration consideration was directed in accordance with the statutory requirements. en-us Tue, 19 Feb 2019 00:00:00 +0530 Tue, 28 Jul 2020 10:11:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289374 A statutory urban development authority constituted for planned urban development was treated as pursuing an object of general public utility under section 2(15) of the Income-tax Act, 1961, because its development, allotment and auction activities did not by themselves amount to trade, commerce or business or show a profit motive; registration under section 12A could not be denied on that basis. Non-filing of audited accounts also did not justify rejection under rule 17A of the Income-tax Rules, 1962, because audited accounts were not a mandatory condition for refusal on the ground invoked by the authorities. The adverse orders were set aside and registration consideration was directed in accordance with the statutory requirements. Case-Laws Income Tax Tue, 19 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289374