https://www.taxtmi.com/caselaws?id=399649 The High Court upheld the respondent-assessee's charitable status, ruling its urban development activities as non-commercial and for public utility. The reassessment proceedings were deemed void due to improper recording of reasons. The additions to fixed assets and General Development Expenditure Fund were deleted, with accumulation under Section 11 allowed. The carry forward of surplus was permitted. The appeal was dismissed in favor of the assessee, entitling it to exemptions under Section 11 of the Income Tax Act, with reopening left undecided and no costs awarded. en-us Mon, 21 Sep 2020 00:00:00 +0530 Thu, 24 Dec 2020 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399649 The High Court upheld the respondent-assessee's charitable status, ruling its urban development activities as non-commercial and for public utility. The reassessment proceedings were deemed void due to improper recording of reasons. The additions to fixed assets and General Development Expenditure Fund were deleted, with accumulation under Section 11 allowed. The carry forward of surplus was permitted. The appeal was dismissed in favor of the assessee, entitling it to exemptions under Section 11 of the Income Tax Act, with reopening left undecided and no costs awarded. Case-Laws Income Tax Mon, 21 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399649