https://www.taxtmi.com/caselaws?id=797787 Fee-based payment and settlement services operated on a non-profit basis to provide secure, efficient and cost-effective national payment infrastructure retained their charitable character where fees funded technology-intensive operations, surpluses were non-distributable, and the dominant purpose was advancing general public utility. Charging fees and earning incidental surplus did not trigger the proviso to Section 2(15), preserving exemption under Sections 11 and 12. Uniform access to payment facilities at identical charges did not amount to application of income for the benefit of promoter banks or other specified persons. Subscription to share capital alone did not establish such benefit, so no violation of Section 13(1)(c)(ii) read with Section 13(3) arose. en-us Fri, 21 Aug 2026 00:00:00 +0530 Thu, 27 Aug 2026 08:28:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797787 Fee-based payment and settlement services operated on a non-profit basis to provide secure, efficient and cost-effective national payment infrastructure retained their charitable character where fees funded technology-intensive operations, surpluses were non-distributable, and the dominant purpose was advancing general public utility. Charging fees and earning incidental surplus did not trigger the proviso to Section 2(15), preserving exemption under Sections 11 and 12. Uniform access to payment facilities at identical charges did not amount to application of income for the benefit of promoter banks or other specified persons. Subscription to share capital alone did not establish such benefit, so no violation of Section 13(1)(c)(ii) read with Section 13(3) arose. Case-Laws Income Tax Fri, 21 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797787