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2012 (9) TMI 1103 - KARNATAKA HIGH COURTDenial of exemption under Section 10(20A) - Held that:- In the instant case, the object and function of incorporating the appellant-company is totally for different purpose. The appellant was incorporated pursuant to the resolution of the Government of Karnataka, but not constituted under any law. It was incorporated for the purpose of achieving certain objects and cannot be equated with the authority constituted in India by or under any law enacted. Looking at the object of the appellant-company it cannot be treated as an authority under article 12 of the Constitution of India. Since they are not discharging the functions of housing accommodation and for the purpose of planning and development of the Cities, towns and villages, the appellant does not fall under the purview of Section 10(20A) of the Act. Hence, they are not entitled to claim exemption. - Decided against assessee.
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