COMMR.OF INCOME TAX vs GUJARAT MARITIME BOARD

The Supreme Court addressed the status of the Gujarat Maritime Board under the Income-tax Act, 1961, specifically Section 10(20) and Section 11. The Court held that the Board does not qualify as a 'Local Authority' post the amendment by the Finance Act, 2002, and thus is not entitled to exemption under Section 10(20). Furthermore, the Court ruled that the Board's application for registration as a 'Charitable Institution' under Section 2(15) was rightly denied, as its primary function is not charitable but focused on the development of minor ports.