https://www.taxtmi.com/circulars?id=9330 The qualification "not involving the carrying on of activity for profit" in the definition of charitable purpose under section 2(15) applies to the object of general public utility and not to its advancement; trusts conducting profit-making activities to advance charitable objects therefore retain charitable status, while only objects that themselves involve carrying on activities for profit disqualify charity status. The board withdraws its prior instruction and permits completion of pending assessments in accordance with this interpretation. en-us Thu, 20 Mar 1980 00:00:00 +0530 Fri, 03 Jun 2011 18:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9330 The qualification "not involving the carrying on of activity for profit" in the definition of charitable purpose under section 2(15) applies to the object of general public utility and not to its advancement; trusts conducting profit-making activities to advance charitable objects therefore retain charitable status, while only objects that themselves involve carrying on activities for profit disqualify charity status. The board withdraws its prior instruction and permits completion of pending assessments in accordance with this interpretation. Circulars Income Tax Thu, 20 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9330