TMI BlogSince assessee is not considered to be in the business of construction of airports per se on its own and...Since assessee is not considered to be in the business of construction of airports per se on its own and is only investing as a promoter, it cannot be considered as business activity of assessee. However, necessary expenditure for running day to day activity of the company has to be allowed as a deduction accordingly either u/s. 37(1) or under the head ‘other sources’ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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