SANJIV KHANNA, J.

Greater Noida Industrial Development Authority (hereinafter referred to as, the petitioner) has filed the present writ petition for setting aside and quashing the order dated 8th June, 2015 passed by the Additional Commissioner of Income Tax, ITA Division, Central Board of Direct Taxes, rejecting their request for issue of notification of exemption under Section 10(46) of the Income Tax Act, 1961 (Act, for short).

2. The respondents to the present writ petition are Ministry of Finance, Central Board of Direct Taxes and Assistant Commissioner of Income Tax, Circle-3, Noida, Uttar Pradesh, who is the Assessing Officer of the petitioner. For the sake of convenience, we would refer to them as respondents.

3. On 22nd November, 2011 the petitioner had made an application with the respondents for issue and grant of exemption notification under Section 10(46) of the Act. The respondents by letter dated 22nd May, 2013, had required the petitioner to furnish information as per proforma enclosed along-with audited balance sheets. These were furnished by the petitioner by detailed reply and documents vide letter dated 28th June, 2013. By communication dated 3rd January