INCOME TAX : Where assessee City Development Authority, while discharging its statutory duties as bestowed on it by State Urban Planning amp; Development Act, 1973 had acquired land, made development on it and carved out plots and thereafter sold land/plots to various persons, assessee was discharging a statutory and sovereign function which were charitable in nature and, therefore, selling of plots/land and receipt thereof was a charitable receipt
from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000315246/‘agra-development-authority’-discharging-statutory-amp-sovereign-function-eligible-for-sec-11-relief-itat.aspx
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