Activities of Statutory Urban Development Body Not Commercial: ITAT allows Section 11 Exemption

DCIT Vs Hapur Pilukhuwa Development Authority (ITAT Delhi) Delhi ITAT dismissed Revenue’s appeal & upheld CIT(A)’s order granting exemption u/s 11 to the Authority. Assessee, a statutory body constituted under the U.P. Urban Planning & Development Act, 1973, filed NIL income claiming exemption u/s 11. AO denied exemption treating its activities of land development & property sale as commercial u/s 2(15) proviso. CIT(A) allowed the claim relying on earlier years’ orders. On appeal, ITAT noted that the identical issue had been decided in Assessee’s favour for earlier years (A...