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SROs Qualify as Charitable Entities under General Public Utility: Section 2(15) – ITAT Delhi
Case Law Details
- Case Name
- Micro Finance Industry Network Vs CIT(E) (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- NA
- Courts
- All ITAT, ITAT Delhi
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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...
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