https://www.taxtmi.com/caselaws?id=473149 Government companies implementing publicly funded railway infrastructure may qualify for charitable income exemption where their dominant purpose is advancing general public utility rather than making profit. Receipts or incidental surplus alone do not establish a profit motive. The nature and dominant purpose of the activities determine whether the restriction concerning trade, commerce or business applies. Administrative cost allocations and the application of interest and surplus towards charitable objects are relevant to that assessment. Incorporation in a form other than a non-profit company is not, by itself, a bar to exemption. en-us Tue, 05 Jan 2021 00:00:00 +0530 Thu, 05 Nov 2026 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=473149 Government companies implementing publicly funded railway infrastructure may qualify for charitable income exemption where their dominant purpose is advancing general public utility rather than making profit. Receipts or incidental surplus alone do not establish a profit motive. The nature and dominant purpose of the activities determine whether the restriction concerning trade, commerce or business applies. Administrative cost allocations and the application of interest and surplus towards charitable objects are relevant to that assessment. Incorporation in a form other than a non-profit company is not, by itself, a bar to exemption. Case-Laws Income Tax Tue, 05 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=473149