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Showing contexts for: Two trustee in The Trustees Of Tribune Press vs The Commissioner Of Income-Tax on 13 June, 1939Matching Fragments
(3) This Act shall not apply to the following classes of income : (i) Any income derived from property held under trust or other legal obligation wholly for religious or charitable purposes, and in the case of property so held in part only for such purposes, the income applied, or finally set apart for application, thereto.
In this sub-Section charitable purpose includes relief of the poor, education, medical relief, and the advancement of any other object of general public utility.
3. Sardar Dayal Singh, a Sikh inhabitant of the Punjab, died in 1898 having by his will, dated June 15, 1895, created three separate trusts, to be administered by three independent " committees of trustees." Two of the trusts were for the establishment and maintenance of (1) an Arts College (2) a public library. The third trust was declared by the 20th and 21st paragraphs of the will in the following terms :