Supreme Court interprets the term “General Public Utility” for the purpose of availing tax exemption by charitable institutions
• In a landmark judgment, the Supreme Court, in the case of various statutory corporations, authorities or bodies, statutory regulatory bodies, trade promotion bodies, cricket associations, etc. (‘Taxpayers’) has interpreted the scope of “general public utility”, which is covered within the last limb of the definition of “charitable purpose” under section 2(15) of the Income-tax Act, 1961 (‘Act’), for the purpose of claiming tax exemption under the Act.
