https://www.taxtmi.com/caselaws?id=27513 The court held that the assessee, a race club, did not qualify as a charitable institution under s. 2(15) of the Income-tax Act, 1961, as its primary object was to conduct races for profit. Therefore, the assessee's income was not exempt u/s 11 of the Act for the relevant assessment years. The court rejected the argument that activities such as scientific breeding of horses were charitable, emphasizing that they did not serve a general public utility. The decision favored the Revenue, affirming that the assessee was not entitled to tax exemption as a charitable institution. en-us Mon, 22 Apr 1985 00:00:00 +0530 Sat, 13 Feb 2010 13:03:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27513 The court held that the assessee, a race club, did not qualify as a charitable institution under s. 2(15) of the Income-tax Act, 1961, as its primary object was to conduct races for profit. Therefore, the assessee's income was not exempt u/s 11 of the Act for the relevant assessment years. The court rejected the argument that activities such as scientific breeding of horses were charitable, emphasizing that they did not serve a general public utility. The decision favored the Revenue, affirming that the assessee was not entitled to tax exemption as a charitable institution. Case-Laws Income Tax Mon, 22 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27513