New Okhla Industrial Development Authority vs. Chief Commissioner of Income Tax & Ors.

Parties Involved

Facts Summary

The appellant, New Okhla Industrial Development Authority (NOIDA), challenged the notices issued by the Income Tax Authority under Section 142 of the Income Tax Act, 1961, and the subsequent judgment of the Allahabad High Court dismissing the writ petition. NOIDA argued that it is a local authority and exempt from income tax under Section 10(20) and Section 10(20A) of the Income Tax Act, 1961. The High Court had previously held that NOIDA is a local body and exempt under Section 10(20A). However, after the Finance Act, 2002, which amended Section 10(20) and omitted Section 10(20A), NOIDA was no longer exempt from income tax. NOIDA filed a writ petition and a review application, both of which were dismissed by the High Court. NOIDA then filed civil appeals against the High Court's judgments.…

Legal Issues

• 1. Whether the appellant is a local authority within the meaning of Section 10(20) as amended by Finance Act, 2002 w.e.f. 01.04.2003.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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