“Section 15(1)(d)”

The broad definition of 'business' should not be applied when interpreting the proviso to Section 2(15) of the Income-tax Act, 1961, as the object and purpose of the section must be considered.

An institution carrying out charitable objects, such as education or advancement of general public utility, does not lose its Section 11 exemption merely by collecting fees for activities like campus placements or educational guidance, as this does not constitute carrying on a business.

Charging fees, even when having regard to the economic status of beneficiaries, is permissible for the sustenance of charitable activities, provided it is necessary for operation and running expenses and does not amount to carrying on trade or commerce. This applies even after the introduction of the proviso to Section 2(15) of the Income Tax Act, 1961.

Donations made for a specific purpose are considered capital in nature and cannot be applied for charitable or religious purposes, thus not being deemed income from property for the purposes of Section 11 of the Income Tax Act.

The proviso to section 2(15) should not be invoked to deny exemption to a sports organization if its activities are not predominantly in the nature of trade, commerce, or business.

A trust's charitable character is not lost if its activities generate profits, as long as those profits are obligated to be spent exclusively or essentially on charitable purposes. The genuineness of the charitable purpose, as demonstrated by the obligation to spend the funds, is the key test.

The income of a society for mutual benefits of its members is exempt from tax, as demonstrated in this case concerning a cooperative bank.

Membership fees and subscription amounts received by a trust or society from its members are not voluntary contributions under Section 12 and thus cannot be characterized as such.