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Income Tax - Highlights / Catch Notes
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Income Tax - Denial of exemption u/s 11 - treatment of assessee as AO -...

Income Tax
10-11-2021

Denial of exemption u/s 11 - treatment of assessee as AO - proof of profit motive - the assessee has carried on systematic activities in a regular manner for construction of Building as per plan, which have led to profit, and such activity is not incidental to the main object of town planning, therefore, it is clear that the assessee has carried on a business which is not incidental to attainment of objects of the authority. - assessee can’t be granted exemption under sec. 11 - AT

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