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2021 (7) TMI 19 - AT - Income TaxExemption u/s 11 - Denial of exemption disputing the charitable nature of activities carried out by the assessee in terms of section 2(15) - AO was of the opinion that assessee is primarily engaged in the activity of development and sale of property and same is in the nature of business and hit by proviso to section 2(15) - CIT-A allowed deduction - HELD THAT:- CIT (A), after taking note of decision of the Coordinate Bench of this Tribunal, in assessee’s own case [2014 (8) TMI 305 - ITAT DELHI] and other orders passed in the case of other development authorities with similar objects allowed the claim of exemption u/s 11 by holding that assessee-authority is a charitable organization and not hit by proviso to section 2(15). We are of the considered view the assessee-authority is carrying out charitable activities with object of general public utility in accordance with section 2(15) of the Act and the same cannot be termed as commercial or of business nature for the purpose of proviso to section 2(15) of the Act. Accordingly, we find no reason to interfere with the order of the Ld. CIT (A) allowing benefit of application and exemption u/s 11 of the Act. - Decided against revenue.
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