https://www.taxtmi.com/caselaws?id=297562 The court dismissed the appeal concerning the interpretation of Section 2(15) of the Income Tax Act, emphasizing that for an entity to be considered charitable, its primary purpose must not be profit-making but rather the advancement of public utility. The court found that the Institute of Chartered Accountants of India primarily aimed to regulate the profession and maintain professional standards, with coaching activities serving these objectives rather than profit generation. Consequently, the court found no grounds to entertain the appeal and dismissed it promptly. en-us Fri, 11 May 2012 00:00:00 +0530 Fri, 10 Sep 2021 14:31:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297562 The court dismissed the appeal concerning the interpretation of Section 2(15) of the Income Tax Act, emphasizing that for an entity to be considered charitable, its primary purpose must not be profit-making but rather the advancement of public utility. The court found that the Institute of Chartered Accountants of India primarily aimed to regulate the profession and maintain professional standards, with coaching activities serving these objectives rather than profit generation. Consequently, the court found no grounds to entertain the appeal and dismissed it promptly. Case-Laws Income Tax Fri, 11 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297562