https://www.taxtmi.com/circulars?id=9048 Section 2(15) excludes activities involving the carrying on of any activity for profit from the definition of charitable purpose. The Supreme Court set a two-step test-(1) whether the object is of general public utility and (2) whether its advancement involves activities carried on for profit or without profit-and held that an affirmative finding of profit-oriented activity removes entitlement to exclusion from total income. Tax officers are directed to review completed cases under this test and report results to the Board. en-us Tue, 09 Nov 1976 00:00:00 +0530 Wed, 01 Jun 2011 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9048 Section 2(15) excludes activities involving the carrying on of any activity for profit from the definition of charitable purpose. The Supreme Court set a two-step test-(1) whether the object is of general public utility and (2) whether its advancement involves activities carried on for profit or without profit-and held that an affirmative finding of profit-oriented activity removes entitlement to exclusion from total income. Tax officers are directed to review completed cases under this test and report results to the Board. Circulars Income Tax Tue, 09 Nov 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9048