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Gujarat Industrial Development ... vs The Commissioner Of Income Tax on 20 August, 1997

86. Thus, the revenue authorities were not correct in holding that the assessee is not entitled to benefit under Section 10(20A), particularly relying on the decisions which deal with the powers of the "Local Authority". The Hon'ble Supreme Court in the case of Gujarat Industrial Development Corporation {supra) has held, the word 'development' in Section 10(20A) is to be construed liberally.
Supreme Court of India Cites 14 - Cited by 27 - Full Document
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