Assessee created under Gujarat TPUD Act developing area of State in phased manner held as charitable activities

INCOME TAX : Where assessee, a regulatory body, was created under Gujarat Town Planning and Urban Development Act, 1976 for proper development of specified area in State in a phased and planned manner, preparation and implementation of development measures, surveying for development of areas and land acquisition, managing urban development schemes, working for water systems, sewage and other facilities and services,

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