https://www.taxtmi.com/caselaws?id=63357 The society was not established for education, because its institutions were run by separate managing committees and its remaining objects were distributive rather than educational in the charitable-law sense; it therefore fell within advancement of any other object of general public utility not involving activity for profit. Its insurance agency activity, although conducted regularly with a profit motive and amounting to business, was authorised by the trust deed and the income was earmarked for charitable objects. On that basis, the business was treated as property held in trust for charitable purposes, and exemption was not denied merely because the activity generated profit. en-us Tue, 28 Dec 1982 00:00:00 +0530 Sat, 29 Jan 2011 15:30:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63357 The society was not established for education, because its institutions were run by separate managing committees and its remaining objects were distributive rather than educational in the charitable-law sense; it therefore fell within advancement of any other object of general public utility not involving activity for profit. Its insurance agency activity, although conducted regularly with a profit motive and amounting to business, was authorised by the trust deed and the income was earmarked for charitable objects. On that basis, the business was treated as property held in trust for charitable purposes, and exemption was not denied merely because the activity generated profit. Case-Laws Income Tax Tue, 28 Dec 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63357