TaxTMI 
TaxTMI 
1978 (9) TMI 8
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.... C.J.-Under s. 10(20) of the I.T. Act, 1961, income of a local authority from a trade or business carried on by it within its own jurisdictional area is exempt from tax. In the present case, the controversy was whether the District Board was itself running the mela and exhibition in question and so entitled to the exemption. The Tribunal has held that though the District Board has constituted a co....