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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  

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