https://www.taxtmi.com/highlights?id=2287 Charitable object - activities of construction of houses, flats, shops etc. which are sold - Since there is no motive to make profit, the activity cannot be said to be a business activity. - matter restored to the AO to ascertain as to whether separate books have been maintained for construction business. If separate books have been maintained, deduction under sub-sections (1), (2), (3) and (3A) will be available to the assessee, otherwise not..... - AT en-us Wed, 07 Dec 2011 12:15:11 +0530 Wed, 07 Dec 2011 12:15:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=2287 Charitable object - activities of construction of houses, flats, shops etc. which are sold - Since there is no motive to make profit, the activity cannot be said to be a business activity. - matter restored to the AO to ascertain as to whether separate books have been maintained for construction business. If separate books have been maintained, deduction under sub-sections (1), (2), (3) and (3A) will be available to the assessee, otherwise not..... - AT Highlights Income Tax Wed, 07 Dec 2011 12:15:11 +0530 https://www.taxtmi.com/highlights?id=2287