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2004 (4) TMI 65 - HC - Income TaxLocal authority - Petitioner is the Krishi Utpadan Mandi Samiti, Bulandshahr, which has been constituted under the U.P. Krishi Utpadan Mandi Adhiniyam, 1964 - contention of learned counsel for the petitioner is that the petitioner is a local authority and is hence exempt from income-tax under section 10(20) - A bare perusal of the Explanation to section 10(20) shows that now four entities are local authorities for the purpose of section 10(20) name] Panchayat ; (ii) Municipality; (iii) Municipal Committee and District Bo (iv) Cantonment Board. Krishi Utpadan Mandi Samiti is not one of the en mentioned in the Explanation to section 10(20). - For the reasons given above, we find no merit in these petitions and they are dismissed.
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