Delhi High Court orders income tax exemption for Noida

The Delhi High Court has directed the income tax department to grant income tax exemption to the New Okhla Industrial Development Authority (NOIDA) under Section 10(46) of the Income Tax Act, 1961. The court rejected the Central Board of Direct Taxes' decision that denied NOIDA's request for tax exemptions, stating that the revenue department erred in categorizing NOIDA's activities as commercial.