Conditions required to be satisfied, for entitlement to exemption vis-à-vis charitable purpose of advancement of any other object of general public utility (GPU), explained. Law clarified relating to when and extent to which trade, commerce, or business or any services in relation thereto is permissible by GPU. Application of Interpretation: At the cost of repetition, it may be noted that the conclusions arrived at by way of this judgment, neither precludes any of the assessees (whether statutory, or non-statutory) advancing objects of general public utility, from claiming exemption, nor the taxing authorities from denying exemption, in the future, if the receipts of the relevant year exceed the quantitative limit. The assessing authorities must on a yearly basis, scrutinize the record to discern whether the nature of the assessee’s activities amount to “trade, commerce or business” based on its receipts and income (i.e., whether the amounts charged are on cost basis, or significantly higher). If it is found that they are in the nature of “trade, commerce or business”, then it must be examined whether the quantified limit (as amended from time to time) in proviso to Section 2(15), has been breached, thus disentitling them to exemption. Para 285

[CIT v. Ahmedabad Urban Development Authority, (2023) 4 SCC 561]

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