ISSUE:
- Whether the Institute of Chartered Accountants of India (ICAI) is a charitable institution and is therefore exempt from income tax on its income?
RULE:
- A professional body can be a charitable institution if its primary object is to promote charitable purposes and its income is used solely for the advancement of its charitable objects.
![](https://traceyourcase.com/wp-content/uploads/2024/02/Screenshot-2024-02-14-at-12.40.45-PM.png)