Profits earned by charitable trust from construction projects not exempt u/s.11, but deductible u/s. 80-IB(10)

ORDER

N.V. Vasudevan, Judicial Member –

This is an appeal by the Assessee against the order dated 19.12.2011 of Director of Income-Tax (Exemption), Bangalore, (“DIT”) passed u/s.263 of the Act relating to AY 2009-10.

2. The Assessee is a charitable institution registered u/s.12A of the Income Tax Act, 1961 (“the Act”). For AY 2009-10, the Assessee filed a return of income decla

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