https://www.taxtmi.com/caselaws?id=423800 The Tribunal allowed the exemption under section 11 of the Income-tax Act for the assessee, a statutory body engaged in activities for general public utility without a profit motive. It directed the Assessing Officer to examine compliance with sections 11(2), 13(1)(d), and 13(3), and approved the treatment of surplus and specific additions. The decision aligned with the jurisdictional High Court's ruling and precedent involving similar development authorities, emphasizing the non-profit nature of the assessee's activities. en-us Fri, 10 Jun 2022 00:00:00 +0530 Wed, 15 Jun 2022 09:19:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423800 The Tribunal allowed the exemption under section 11 of the Income-tax Act for the assessee, a statutory body engaged in activities for general public utility without a profit motive. It directed the Assessing Officer to examine compliance with sections 11(2), 13(1)(d), and 13(3), and approved the treatment of surplus and specific additions. The decision aligned with the jurisdictional High Court's ruling and precedent involving similar development authorities, emphasizing the non-profit nature of the assessee's activities. Case-Laws Income Tax Fri, 10 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423800