https://www.taxtmi.com/caselaws?id=462626 The ITAT Delhi dismissed the Revenue's appeal in a case involving a statutory authority's charitable status. The Revenue unsuccessfully argued that the assessee's activities were commercial in nature, attempting to deny exemption under section 11. The tribunal relied on the SC's decision in Ahmedabad Urban Development Authority, which clarified that receipts of statutory bodies are prima facie excluded from commercial receipts. The tribunal also upheld the CIT(A)'s deletion of additions related to infrastructure development fund, citing judicial consistency with previous years' orders. Additionally, the Revenue's challenge to depreciation claims was rejected as the statutory amendment had prospective effect only. en-us Mon, 27 Jan 2025 00:00:00 +0530 Fri, 04 Jul 2025 19:03:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462626 The ITAT Delhi dismissed the Revenue's appeal in a case involving a statutory authority's charitable status. The Revenue unsuccessfully argued that the assessee's activities were commercial in nature, attempting to deny exemption under section 11. The tribunal relied on the SC's decision in Ahmedabad Urban Development Authority, which clarified that receipts of statutory bodies are prima facie excluded from commercial receipts. The tribunal also upheld the CIT(A)'s deletion of additions related to infrastructure development fund, citing judicial consistency with previous years' orders. Additionally, the Revenue's challenge to depreciation claims was rejected as the statutory amendment had prospective effect only. Case-Laws Income Tax Mon, 27 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462626