- (1.) THE main question involved in the writ petition is, Whether, after 1.4.2003, New Okhla Industrial Development Authority (Noida) (the Petitioner) is a local authority within the meaning of section 10(20) of the Income Tax Act, 1961 (the Act). THE FACTS The Petitioner is an authority created under UP Industrial Area Development Act, 1976 (the Industrial -Area Act). The major portion of its area is in district Gautam Budh Nagar, though a small part of other districts are also included in it.
(2.) THE Income Tax Department (the Department) issued notices dated 29.8.2005 and 31.8.2005 requiring, The Petitioner to file its return for the assessment years 2003 -04 and 2004 -5 (under section 142 of the Act); The bankers of the Petitioner to submit the details of its tern deposits (under section 131 of the Act); The bakers of the Petitioner to deduct the tax at source (under section 194A of the Act). The Petitioner filed its reply on 20.9.2005 against these notices; thereafter, the present writ petition was filed challenging these notices on the ground that: The Petitioner is a 'local authority' within the meaning of Section 10(20) of the Act, and Its income is exempt from payment of Income Tax. POINTS FOR DETERMINATION
(3.) WE have heard Sri V.B. Upadhyaya and Sri Vidya Bhushan Upadhyaya, counsel for the Petitioner and Sri R.K. Upadhyaya, counsel for the Department. The following points arises for determination in the case: (i) Whether WP should be dismissed on the ground of alternative remedy; (ii) Whether Noida (the Petitioner) is a local authority after 1.4.2003 within the meaning of Section 10(20) of the Act. 1st POINT: AT THIS STAGE, NO DISMISSAL ON ALTERNATIVE REMEDY;