https://www.taxtmi.com/caselaws?id=791933 A statutory authority engaged in port development and infrastructure functions remains eligible for exemption under sections 11 and 12 when its receipts arise from activities intrinsically connected with its public mandate, and it is not denied charitable status merely because it collects statutory charges or generates surplus. A violation of section 11(5) read with section 13(1)(d) affects only the income linked to impermissible investments and does not withdraw exemption from the entire income. TDS already included in gross receipts cannot be added again as income available for application. Depreciation on assets whose cost was already treated as application of income is barred by section 11(6), subject to factual verification of whether application was actually claimed. en-us Wed, 13 May 2026 00:00:00 +0530 Wed, 20 May 2026 08:31:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791933 A statutory authority engaged in port development and infrastructure functions remains eligible for exemption under sections 11 and 12 when its receipts arise from activities intrinsically connected with its public mandate, and it is not denied charitable status merely because it collects statutory charges or generates surplus. A violation of section 11(5) read with section 13(1)(d) affects only the income linked to impermissible investments and does not withdraw exemption from the entire income. TDS already included in gross receipts cannot be added again as income available for application. Depreciation on assets whose cost was already treated as application of income is barred by section 11(6), subject to factual verification of whether application was actually claimed. Case-Laws Income Tax Wed, 13 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791933