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of <h1>CBDT Clarifies 'Charitable Purpose' in Income-tax Act: Profit-Making Activities Allowed if Advancing Non-Profit Goals.</h1> The Central Board of Direct Taxes (CBDT) issued an instruction on March 20, 1980, addressing the definition of 'charitable purpose' under section 2(15) of the Income-tax Act, 1961. This followed a Supreme Court judgment in the Surat Art Silk Cloth Manufacturers Association case, which clarified that a trust does not lose its charitable status if it conducts profit-making activities to advance its objectives, unless the objectives themselves involve profit-making activities. Consequently, the CBDT withdrew its previous directive from October 17, 1977, and instructed that pending assessments be completed according to this updated legal interpretation.
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