Activities with object of planning & promoting development of urban area is a charitable activity: HC

INCOME TAX : Where assessee statutory authority was constituted under provision of Karnataka Urban Development Authority Act, 1987 with an object of planing and promoting and securing development of an urban area and for that purpose to acquire, hold, manage and dispose off movable and immovable property and to carry out building and engineering operations for development of an urban area, activity of assessee would be considered as charitable activity as per section 2(15)

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