Home › Income-Tax Act › CIT (E) v. Gandhinagar Urban Development Authority (2023)454 ITR 40 / 292 Taxman 516 (Guj)(HC) Editorial: SLP of Revenue, dismissed, CIT (E) v Gandhinagar Urban Development Authority (2023)454 ITR 43 / 292 Taxman 70 (SC)

CIT (E) v. Gandhinagar Urban Development Authority (2023)454 ITR 40 / 292 Taxman 516 (Guj)(HC) Editorial: SLP of Revenue, dismissed, CIT (E) v Gandhinagar Urban Development Authority (2023)454 ITR 43 / 292 Taxman 70 (SC)

S. 11 : Property held for charitable purposes-Object of general public utility-Urban Development Authority-Entitled to exemption. [S. 2(15), 11(1)(a), 11(2), 12, 260A]

Dismissing the appeal of the Revenue the Court held that the Tribunal was justified in allowing the benefit of exemptions under sections 11 and 12 of the Income-tax Act, 1961, the benefit of capital expenditure and accumulation at 15 per cent. under section 11(1)(a), accumulation of  income under section 11(2). Referred, Ahmedabad Urban Development Authority v. ACIT(E) (2017) 396 ITR 323 (Guj)(HC). (AY. 2015-16)