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2020 (10) TMI 41 - HC - Income TaxExemption u/s 11 - activity of the assessee as engaged in the development of urban area of Rajkot - whether assessee is involved in widespread commercial activities in nature of business and the activity of the assessee is covered under first and second proviso to section 2(15) ? - HELD THAT:- We need not adjudicate these appeals on merit as the substantial questions of law as proposed are no longer res integra in view of the decision of this High Court in the case of Ahmedabad Urban Development Authority vs. Assistant Commissioner of Income Tax, [2017 (5) TMI 1468 - GUJARAT HIGH COURT] - We take notice of the fact that in the common judgment delivered by the appellate Tribunal for different assessment years, the Tribunal has placed reliance on the very same judgment of this High Court. - Decided in favour of assessee.
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