Case Law Analysis
|Income Tax Appellate Tribunal
Section 2(15) IT Act | Statutory Urban Development Authorities Entitled to Charitable Exemption Under Section 11 : ITAT Delhi
ITAT Delhi rules that statutory urban development authorities like Hapur Pilukhuwa Development Authority qualify as charitable institutions under Section 2(15) of the Income Tax Act, entitling them to exemption under Section 11. The tribunal affirms that development activities for public purposes fall within the ambit of 'charitable purpose,' rejecting the Revenue's argument on commercial receipts.