{"id":23342,"date":"2022-01-05T13:00:08","date_gmt":"2022-01-05T07:30:08","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-lakshadweep-development-corporation-ltd-2021-438-itr-342-ker-hc\/"},"modified":"2022-06-03T11:53:11","modified_gmt":"2022-06-03T06:23:11","slug":"pcit-v-lakshadweep-development-corporation-ltd-2021-438-itr-342-ker-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-lakshadweep-development-corporation-ltd-2021-438-itr-342-ker-hc\/","title":{"rendered":"PCIT v. Lakshadweep Development Corporation Ltd. (2021) 438 ITR 342  \/ 323 CTR 818\/ 208 DTR 59 \/(2022)  285 Taxman 291      (Ker.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that the assessee was a 100 per cent. Government of India owned company in Lakshadweep Union Territory. The company was registered under the Companies Act, 1956. The prime object of the assessee was to work for the development and uplifting of the Scheduled Tribe community of the Union Territory of Lakshadweep. The assessee though incorporated under the Companies Act fell within the ambit of exemption envisaged by section\u00a010(26B)\u00a0and was entitled to the benefit of exemption. (AY. 2011-12, 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 10(26B) : Income of  Body Corporation established or  wholly financed by  Central or  State Government for promoting interests of  Scheduled castes or  Scheduled Tribes-Government of India owned company in Lakshadweep Union Territory-Entitle for exemption.  [S. 10, Companies Act, 1956] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-23342","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-64u","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=23342"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23342\/revisions"}],"predecessor-version":[{"id":27231,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23342\/revisions\/27231"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=23342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=23342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=23342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}