https://www.taxtmi.com/caselaws?id=753342 ITAT Visakhapatnam held that the appellant, incorporated under special legislation with complete state government control over appointments and policy decisions, qualifies as an instrumentality of state under Article 12 of the Constitution. Applying the Som Prakash Rekhi criteria, the tribunal found the appellant satisfied majority conditions for state status. Despite AO's view that appellant was a partnership firm liable to tax, ITAT determined the appellant was entitled to tax immunity under constitutional provisions. The tribunal noted appellant's bona fide belief in tax exemption status and allowed cancellation of wrongly issued PAN. Appeal allowed with complete tax exemption granted. en-us Tue, 28 May 2024 00:00:00 +0530 Thu, 30 May 2024 10:45:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753342 ITAT Visakhapatnam held that the appellant, incorporated under special legislation with complete state government control over appointments and policy decisions, qualifies as an instrumentality of state under Article 12 of the Constitution. Applying the Som Prakash Rekhi criteria, the tribunal found the appellant satisfied majority conditions for state status. Despite AO's view that appellant was a partnership firm liable to tax, ITAT determined the appellant was entitled to tax immunity under constitutional provisions. The tribunal noted appellant's bona fide belief in tax exemption status and allowed cancellation of wrongly issued PAN. Appeal allowed with complete tax exemption granted. Case-Laws Income Tax Tue, 28 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753342