Home › Income-Tax Act › CIT (E) v Gandhinagar Urban Development Authority (2023)454 ITR 43 / 292 Taxman 70 (SC) Editorial: CIT (E) v. Gandhinagar Urban Development Authority (2022) 454 ITR 40 / 292 Taxman 516 (Guj)(HC), affirmed.

CIT (E) v Gandhinagar Urban Development Authority (2023)454 ITR 43 / 292 Taxman 70 (SC) Editorial: CIT (E) v. Gandhinagar Urban Development Authority (2022) 454 ITR 40 / 292 Taxman 516 (Guj)(HC), affirmed.

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

Dismissing the SLP of the Revenue the Court held that  the Decision of the  High Court dismissing  the Department’s appeal on the questions whether 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,  following its decision in the case of  ACIT v.  Ahmedabad Urban Development  Authority  (2022) 449 ITR 1 (SC)  (AY. 2015-16)