‘Urban Improvement Trust’ is not a local authority; not entitled to Sec. 10(20) exemption: SC

IT : Urban Improvement Trust constituted under Rajasthan Urban Improvement Act, 1959 is not a local authority within meaning of Explanation to section 10(20), hence not entitled to tax exemption under said provision

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000184479/‘urban-improvement-trust’-is-not-a-local-authority-not-entitled-to-sec-1020-exemption-sc.aspx