COMMISSIONER OF INCOME-TAX, MADRAS vs ANDHRA CHAMBER OF COMMERCE

The Supreme Court held that the term 'charitable purpose' under Section 4(3)(i) of the Indian Income Tax Act, 1922, is inclusive of objects of general public utility, such as the promotion of trade and commerce. The Court found that the assessee company, Andhra Chamber of Commerce, aimed to benefit the trading class and the country as a whole, thus qualifying for exemption from income tax. The High Court's ruling was upheld, affirming that the company's objectives were not vague and did not solely benefit its members, but served a broader public interest.