https://www.taxtmi.com/article/detailed?id=16192 Post-Ahmedabad Urban Development Authority, a general public utility entity cannot carry on trade, commerce or business as a standalone object for consideration. Connected commercial activities may still be undertaken in the course of advancing the public utility object, but only if the receipts stay within the prescribed quantitative limit and the consideration is no more than cost or a nominal mark-up. Section 11(4A) and section 2(15) are to be read harmoniously, with separate books of account supporting compliance and the assessment turning on whether the receipts are materially above cost. en-us Mon, 13 Apr 2026 07:55:34 +0530 Mon, 13 Apr 2026 07:55:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16192 Post-Ahmedabad Urban Development Authority, a general public utility entity cannot carry on trade, commerce or business as a standalone object for consideration. Connected commercial activities may still be undertaken in the course of advancing the public utility object, but only if the receipts stay within the prescribed quantitative limit and the consideration is no more than cost or a nominal mark-up. Section 11(4A) and section 2(15) are to be read harmoniously, with separate books of account supporting compliance and the assessment turning on whether the receipts are materially above cost. Articles Income Tax Mon, 13 Apr 2026 07:55:34 +0530 https://www.taxtmi.com/article/detailed?id=16192