1998 (3) TMI 5 - SUPREME COURT

U. P. Forest Corporation, the assessee herein, was constituted by a notification issued under section 3 of the U. P. Forest Corporation Act, 1974. This Corporation was established for better preservation, supervision, development of forest and better exploitation of forest produce within the State of Uttar Pradesh - High Court was not correct in coming to the conclusion that the respondent was a "local authority" and entitled to exemption under section 10(20)