Supreme Court: IBC Mechanism Cannot Replace Decree Execution or Recovery Proceedings  ||  SC Orders Closure of School Over Loan Default, Directs Police-Assisted Takeover under SARFAESI Act  ||  MP HC: HC Lacks Jurisdiction to Appoint an Arbitrator in International Commercial Disputes  ||  Allahabad HC Imposes Rs 15L Costs on Husband For Filing False Affidavits in Maintenance Proceedings  ||  MP HC Directs ASI to Upload Bhojshala–Kamal Maula Survey Video on Secure Platform For Litigant  ||  Bombay HC: Public Gathering Does Not Justify Handcuffing, Awarded ?50,000 Compensation  ||  Madras HC: Woman’s Dignity Linked to Right to Shelter; Orders Restoration of Demolished Home  ||  SC: Absence of Independent Witnesses is Not Fatal if Injured Eyewitness Testimony is Sterling  ||  Supreme Court: Prosthetic Limb Costs Must Be Compensated To Restore Victims’ Dignity  ||  Supreme Court: Probate Can be Revoked For Non-Impleadment of Parties and Suppression of Facts    

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