Allowing the appeal of the assesse the Tribunal held that , mere dismissal of SLP by Supreme Court against judgment of J&K High Court in case of Jammu Development Authority could not be construed as having effect of elocution of law by Supreme Court on subject against assessee and benefit of exemption under section 11 could not be denied to assessee, a development authority when it had been granted exemption in past consistently.( AY. 2012-13 , 2013-14)
Moradabad Development Authority v. ACIT (2018) 168 ITD 564 / 162 DTR 17/ 191 TTJ 761 (Delhi) (Trib.)
S. 12A : Registration –Trust or institution- Denial of exemption was held to be not justified , when the exemption was allowed consistently – Rejection of SLP cannot be construed as having effect of elocution of law by Supreme Court [ S. 2(15) 11 ]