286 ITR

Sec. 10(20)

Allahabad H.C : Whether, on the facts and in the circumstances of the case, the status of the assessee-Corporation was that of a ‘local authority’ and as such the income derived by it from house property, capital gains and the business of supply of goods and services was exempt to the extent provided in s. 10(20) of the IT Act, 1961, for the asst. yrs. 1976-77 and 1977-78 ?

High Court Of Allahabad U.P. State Road Transport Corporation vs. CIT Section 10(20) Asst. Years 1976-77, 1977-78 R.K. Agrawal &

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