https://www.taxtmi.com/caselaws?id=399593 A statutory urban development authority constituted under the Gujarat Town Planning and Urban Development Act, 1976 was treated as carrying out planning and development functions for general public utility, not trade, commerce or business. The Court held that preparation and execution of town planning schemes, collection of regulatory fees, and limited sale of land were integral to its statutory object and only funded those functions. Incidental receipts or surplus did not change the charitable character of the activity. The first proviso to section 2(15) of the Income-tax Act, 1961 was therefore inapplicable, and exemption under section 11 remained available. en-us Mon, 21 Sep 2020 00:00:00 +0530 Thu, 24 Dec 2020 17:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399593 A statutory urban development authority constituted under the Gujarat Town Planning and Urban Development Act, 1976 was treated as carrying out planning and development functions for general public utility, not trade, commerce or business. The Court held that preparation and execution of town planning schemes, collection of regulatory fees, and limited sale of land were integral to its statutory object and only funded those functions. Incidental receipts or surplus did not change the charitable character of the activity. The first proviso to section 2(15) of the Income-tax Act, 1961 was therefore inapplicable, and exemption under section 11 remained available. Case-Laws Income Tax Mon, 21 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399593