TMI Blog2023 (8) TMI 689X X X X Extracts X X X X X X X X Extracts X X X X ..... ustrial development, supply of water, sewage management, supply of food grain, development and town planning, etc.) may resemble trade, commercial, or business activities. However, since their objects are essential for advancement of public purposes/functions (and are accordingly restrained by way of statutory provisions), such receipts are prima facie to be excluded from the mischief of business or commercial receipts. For the period 1-4-2003 to 1-4-2011, a statutory corporation could claim the benefit of Section 2(15) having regard to the judgment of this Court in the Gujarat Maritime Board Case[ 2007 (12) TMI 7 - SUPREME COURT] Likewise, the denial of benefit under Section 10(46) after 1-4-2011 does not preclude a statutory corporati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SCC Online SC 1461: (2023) 4 SCC 561. It was further submitted at the Bar that the respondent(s) herein which has been registered for conducting an activity, in the nature of a General Public Utility, which is charitable in nature under Section 10(29) of the Income Tax Act is entitled to exemption from tax under Sections 11 and 12 of the said Act, therefore, appropriate an order may be made in these appeals. Considering at length the nature of activity discharged by entities such as the respondent(s) herein, this Court observed in Ahmedabad Urban Development Authority (supra) at paragraphs 274 to 277 as under:- 274. The amounts or any money whatsoever charged by a statutory corporation, board or any other body set up by the State ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ever name called) will require similar consideration- i.e. whether it is at cost with a nominal markup or significantly higher, to determine such notified bodies, there is no quantified limit in Section 10(46). Therefore, the Central Government would have to decide on a case-by-case basis whether and to what extent, exemption can be awarded to bodies that are notified under Section 10(46). 277. For the period 1-4-2003 to 1-4-2011, a statutory corporation could claim the benefit of Section 2(15) having regard to the judgment of this Court in the Gujarat Maritime Board Case [(CIT v. Gujarat Maritime Board, (2007) 14 SCC 704]. Likewise, the denial of benefit under Section 10(46) after 1-4-2011 does not preclude a statutory corporation, b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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