Case Law Details
Maharashtra Housing & Area Development Authority (MHADA) Vs DCIT (ITAT Mumbai)
Merely because MHADA builds tenements and sells them does not lead to any inference that MHADA’s activities are in the nature of trade, commerce or business. We have already discussed in detail that assessee’s activity is no way can be held for the profit motive or for carrying out systematic business, albeit all its policy as well as conduct is to provide shelter to the needy and poor people in line with the mandate of Constitution of India.
FULL TEXT OF THE ORDER OF ITAT MUMBAI
The present appeal has been preferred by the assessee against the order dated 31.01.2019 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2015-16.
2. The issue raised in ground No.1 & 2 is against the order of Ld. CIT(A) upholding the order of AO whereby the AO has denied exemption under section 11 of the Act on the ground that proviso to section 2(15) of the Act applies to the assessee.
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