https://www.taxtmi.com/caselaws?id=798235 Registration under section 12AB cannot be refused merely because an investor-protection fund is financed by a stock exchange and its members. Compensation is payable only to eligible investors whose admitted claims remain unpaid following a trading member's default and insufficient assets; defaulting members neither receive payments nor obtain rights in the fund. Securities-market investors constitute a section of the public sharing a common public interest, not a private group of specified persons. Investor protection, awareness and research activities remain consistent with charitable objects where they are not conducted as trade, commerce, business, or services for consideration. The refusal was unsustainable because the activities were genuine, aligned with the stated objects, and outside the proviso to section 2(15). en-us Mon, 31 Aug 2026 00:00:00 +0530 Thu, 03 Sep 2026 08:20:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798235 Registration under section 12AB cannot be refused merely because an investor-protection fund is financed by a stock exchange and its members. Compensation is payable only to eligible investors whose admitted claims remain unpaid following a trading member's default and insufficient assets; defaulting members neither receive payments nor obtain rights in the fund. Securities-market investors constitute a section of the public sharing a common public interest, not a private group of specified persons. Investor protection, awareness and research activities remain consistent with charitable objects where they are not conducted as trade, commerce, business, or services for consideration. The refusal was unsustainable because the activities were genuine, aligned with the stated objects, and outside the proviso to section 2(15). Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798235