https://www.taxtmi.com/caselaws?id=429390 The judgment clarifies the interpretation of "charitable purpose" under the amended Section 2(15) of the Income Tax Act, 1961, emphasizing that entities must primarily serve charitable objectives, with any commercial activities being incidental and limited to 20% of total receipts. Statutory bodies performing public functions may qualify for tax exemptions if their activities are not primarily commercial. The court evaluates specific entities' claims for tax exemption, focusing on their alignment with charitable purposes and compliance with statutory provisions. The ruling aims to prevent misuse of charitable status by entities engaged in significant commercial activities. en-us Wed, 19 Oct 2022 00:00:00 +0530 Tue, 29 Oct 2024 15:11:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429390 The judgment clarifies the interpretation of "charitable purpose" under the amended Section 2(15) of the Income Tax Act, 1961, emphasizing that entities must primarily serve charitable objectives, with any commercial activities being incidental and limited to 20% of total receipts. Statutory bodies performing public functions may qualify for tax exemptions if their activities are not primarily commercial. The court evaluates specific entities' claims for tax exemption, focusing on their alignment with charitable purposes and compliance with statutory provisions. The ruling aims to prevent misuse of charitable status by entities engaged in significant commercial activities. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429390