SROs Qualify as Charitable Entities under General Public Utility: Section 2(15) – ITAT Delhi

Micro Finance Industry Network Vs CIT(E) (ITAT Delhi) Self-Regulatory Organizations (SROs) was eligible as Charitable Entities under “General Public Utility” (Section 2(15)) Conclusion: When an entity served both its members and the public, the “dominant object” test applies. If the regulatory functions lead to borrower protection and financial stability for low-income groups, the GPU status was maintainable. Entities seeking “General Public Utility” (GPU) status must maintain granular data on “direct benefit” activities (e.g., number of grievances resolved, number of workshops...