https://www.taxtmi.com/caselaws?id=151782 The 1984 amendment to charitable purpose under section 2(15) restored the general public utility position substantially prevailing under the 1922 Act by removing the profit-activity restriction. Substantial profit does not by itself alter a trust's charitable character or eliminate section 11 exemption. Section 11(4A) limits exemption only for business profits where the business is not incidental to the charitable objects or separate books are not maintained. Income assessable under other heads, including house property, capital gains and other sources, remains eligible for exemption subject to applicable conditions. en-us Thu, 19 Oct 2006 00:00:00 +0530 Sat, 17 Feb 2024 14:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151782 The 1984 amendment to charitable purpose under section 2(15) restored the general public utility position substantially prevailing under the 1922 Act by removing the profit-activity restriction. Substantial profit does not by itself alter a trust's charitable character or eliminate section 11 exemption. Section 11(4A) limits exemption only for business profits where the business is not incidental to the charitable objects or separate books are not maintained. Income assessable under other heads, including house property, capital gains and other sources, remains eligible for exemption subject to applicable conditions. Case-Laws Income Tax Thu, 19 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151782