TaxTMI 
TaxTMI 
2025 (12) TMI 1703
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....Delhi (the Ld. CIT(A)) dated 27.08.2024 in all these cases wherein the appeal filed by the Assessee against the Assessment Order passed by the Assessing Officer are dismissed. 2. The brief facts shows in all these cases are that the Assessee is an Urban Development Authority for Assessment Year 2016-17, it filed its return of income on 17.10.2016 declaring a total income at Rs. Nil/-. Assessee has sought for carry forward losses and unabsorbed depreciation of earlier years against the current year income of Rs. 8.5 crores. The Ld. Assessing Officer, on selection of scrutiny, found that Assessee has claimed exemption u/s. 11 on the basis of the decision of the Hon'ble Gujarat High Court in case of Ahmedasbad Urban Development Authority. T....
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....t got registered under section 12AA of the Act to be eligible for claiming exemption under section 11 of the Act vide order of registration (ITBA/EXM/S/12 AA/2020-21/1027091644(1)) dated 14/05/2020 under section 12AA of the Act-Registration No. CIT (EXEMPTIONS) BANGALORE/12 AA/2020-21/A/10043. The order clearly stated that the provisions of sections 11 and 12 shall apply in the case from the Assessment Year: 2020-21. As per sub-section (2) of section 12A of the Act, where an application has been made on or after the 1st day of June 2007, the provisions of section 11 and 12 shall apply in relation to the income of the trust or institution from the assessment year immediately following the financial year in which the application for ....
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....elopment Authority and CIT Belgaum (ITA 5020 of 2012) in support of its claim for exemption under section 11 of the Act. However, the assessee's in those cases were granted registration under section 12AA of the Act and does not apply to appellant's case. 7. Besides the above claim of exemption under section 11 of the Act, the appellant had not made any substantive argument in support of the grounds relating to the set off of the brought forward losses of earlier years and depreciation losses as presented in Form 35. With regard to the same, I am to note that the assessing officer had already considered the above issue pertaining to the set-off of the losses and determined the eligible losses for set off for the detailed reason....
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....ct filed on 18.08.2025 is pending before the Ld. CIT (Exemptions). 8. Meanwhile honourable supreme court in case of Assistant Commissioner of Income-tax (Exemptions) vs. Ahmedabad Urban Development Authority [2022] 143 taxmann.com 278 (SC)/[2023] 291 Taxman 11 (SC)/[2022] 449 ITR 1 (SC)[19-10-2022] has held that :- "190. In light of the above discussion, this court is of the opinion that: (i) The fact that bodies which carry on statutory functions whose income was eligible to be considered for exemption under section 10(20A) ceased to enjoy that benefit after deletion of that provision w.e.f. 1-4-2003, does not ipso facto preclude their claim for consideration for benefit as GPU category charities, under section 11 read....
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....public GPU charity, is set-up - whether for furthering the development or a charitable object or for carrying on trade, business or commerce or service in relation to such trade, etc.; (c) Rendition of service or providing any article or goods, by such boards, authority, corporation, etc., on cost or nominal mark-up basis would ipso facto not be activities in the nature of business, trade or commerce or service in relation to such business, trade or commerce; (d) where the controlling instrument, particularly a statute imposes certain responsibilities or duties upon the concerned body, such as fixation of rates on pre-determined statutory basis, or based on formulae regulated by law, or rules having the force of law, setti....