https://www.taxtmi.com/caselaws?id=38568 The Supreme Court held that the activities of the Chamber constituted an activity for profit, disqualifying it from tax exemption under sections 2(15) and 11(1) of the Income-tax Act, 1961. The property was not held wholly for charitable purposes as it involved an organized effort to derive surplus, thus failing the test for exemption. The Court emphasized that the advancement of an object of general public utility must not involve any activity for profit to qualify as a charitable purpose. en-us Wed, 09 Mar 1977 00:00:00 +0530 Wed, 07 Apr 2010 12:53:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38568 The Supreme Court held that the activities of the Chamber constituted an activity for profit, disqualifying it from tax exemption under sections 2(15) and 11(1) of the Income-tax Act, 1961. The property was not held wholly for charitable purposes as it involved an organized effort to derive surplus, thus failing the test for exemption. The Court emphasized that the advancement of an object of general public utility must not involve any activity for profit to qualify as a charitable purpose. Case-Laws Income Tax Wed, 09 Mar 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38568