Make file command not executed in windows console - makefile

Question

I am using makefile to build my code for boost cpp application. When makefile get executed it shows following message
g++ -c -Wall -I/c/MinGW/include/ -lboost_system -lws2_32 Timer_async.cpp -o Timer_async.o
and throws following error
#include <boost/asio.hpp>
^
compilation terminated.
mingw32-make: *** [makefile:15: Timer_async.o] Error 1
but if I run this makefile generated command from shell prompt
g++ -c -Wall -I/c/MinGW/include/ -lboost_system -lws2_32 Timer_async.cpp -o Timer_async.o
Program builds properly.
My make file is as
CC=g++
CFLAGS=-c -Wall
LDFLAGS=-lboost_system -lws2_32
INCLUDES=-I/c/MinGW/include/
SOURCES=Timer_async.cpp
OBJECTS=$(SOURCES:.cpp=.o)
EXECUTABLE=hello
all: $(SOURCES) $(EXECUTABLE)
$(EXECUTABLE): $(OBJECTS)
$(CC) $(SOURCES) $(INCLUDES) $(LDFLAGS) -o $#
.cpp.o:
$(CC) $(CFLAGS) $(INCLUDES) $(LDFLAGS) $< -o $#

Answer 1

I think the error is may be how conemu handles file paths. after changing make file to following more specific
CFLAGS = -c -I/c/MinGW/include
2
3 hello: Timer_async.o
4
5 Timer_async.o: Timer_async.cpp
6 g++ $(CFLAGS) Timer_async.cpp
7
8 clean:
9 rm Timer_async.o
I was still getting errors but after adding double quotes in path all errors were corrected.
My modified make file is
CFLAGS = -c -I"/c/MinGW/include"
2
3 hello: Timer_async.o
4
5 Timer_async.o: Timer_async.cpp
6 g++ $(CFLAGS) Timer_async.cpp
7
8 clean:
9 rm Timer_async.o

Answer 2

Why do you specify both $(SOURCES) and $(EXECUTABLE) as dependencies to all? What is that adding that the $(EXECUTABLE) rule isn't achieving?
The #include is failing (that's what the diagnostic message seems to indicate) because the target file cannot be found. You have used the -I flag incorrectly. That will only influence how includedFile.c is located; it has no effect on <includedFile.c>.
Your conclusion "Makefile command not executed" (and I have no idea what a "Makefile command" is) was unwarranted. make did exactly what it was supposed to.