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ITAT restored Sec. 12AA registration of ‘VMRDA as it wasn’t engaged in commercial activities

May 22, 2020[2020] 116 711 (Visakhapatnam - Trib.)

INCOME TAX : Where assessee Visakhapatnam Metro Region Development Authority was a Government institution carrying out activities such as sale of lands by public auction, entering into joint development agreement for construction of commercial complexes, houses and malls for public utility services for furtherance of objects, and department did not place any material to show that assessee was engaged in commercial activity, registration granted to assessee under section 12AA cancelled on presumptions and assumptions without having proper material was to be restored
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