SC Condemns Witch-Hunting, Says Superstition Continues to Override Constitutional Morality  ||  SC: Retired Judges Appointed to Central Industrial Tribunals Not Entitled to Pay Parity  ||  SC: Electricity Boards Liable for Electrocution Deaths under Strict, Not Absolute Liability  ||  Supreme Court Criticizes Courts For Conducting ‘Mini-Trials’ in Temporary Injunction Matters  ||  SC: Common Judgment in Suits by Same Plaintiff can be Challenged Through Composite Appeal  ||  Chandigarh Court Orders Meta to Take Down AI-Generated Video of Punjab MLA Sukhpal Khaira  ||  Delhi HC: Insolvency Professionals Must Collect & Deposit GST Even if they are Advocates  ||  Madras HC Rejects Election Petition Challenging Colachel MLA Tharahai Cuthbert  ||  Supreme Court: Uncrystallized Contractual Damages Not an Operational Debt under Section 9 IBC  ||  Supreme Court: Interest Accrued in Suspense Account After NPA Classification is Recoverable as Debt    

Calcutta HC: Non-Profit Organization Utilizing Profits for Furtherance of Purpose, Charitable Activit - (07 Mar 2022)

DIRECT TAXATION

Calcutta High Court has ruled that when a Company has been established as a non-profit organization under the Companies Act, 2013 and its profits are applied solely for the promotion of its objects, its activities would by necessary implication fall under the definition of a charitable purpose under the Income Tax Act, 1961.

Tags : CALCUTTA HIGH COURT   NON-PROFIT ORGANIZATION  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved