Supreme Court: Amalgamating Company Loss Cannot be Set Off Against Amalgamated Income  ||  Supreme Court: Hostile Witness Deposition Admissible to the Extent it is Found Credible and Reliable  ||  SC Upholds Penalty on Bank For Delay in Cheque Presentation under Consumer Protection Act  ||  Karnataka High Court Orders Strict Statewide Implementation of Menstrual Leave Policy  ||  Delhi HC: Emergency Arbitrator Awards are Not Binding on Indian Courts in Interim Relief Proceedings  ||  Del HC Imposes ?10L Fine on Parle Agro For Non-Disclosure of Sales Revenue in Pepsico Trademark Case  ||  Supreme Court: Spouse Cannot Withdraw Consent for Mutual Divorce After Settlement Agreement  ||  Supreme Court Suspends PC Act Sentence of Former Minister Anosh Ekka, Flags Overlapping CBI Cases  ||  Supreme Court: Magistrate’s Probe Order Can’t be Quashed on Accused’s Defence  ||  Delhi High Court: No Adverse Inference if Handwriting Sample Refused Without Section 73 Disclosure    

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