Case Law Analysis
|Income Tax Appellate Tribunal
Section 11 Income Tax Act | Infrastructure Funds of Statutory Development Authorities Not Taxable if Used for Public Purposes: ITAT Delhi
ITAT Delhi rules that statutory development authorities like Aligarh Development Authority qualify as charitable entities under Section 2(15) of the Income Tax Act. Funds earmarked for infrastructure development under state directives are not taxable income if utilized for statutory public purposes, reinforcing the principle of diversion of income by overriding control.