Explanation thereto. The Tribunal, therefore, held that the assessee-trust was not a trust for charitable purposes and, hence, its income was not exempt under ... hand, submitted that the objects of the trust clearly show that the trust was formed on non-charitable objects and one of the objects
Madras Race Club Charitable Trust vs Commissioner Of Income-Tax on 11 June, 1998
Equivalent citations: [2000]245ITR240(MAD)
Author: R. Jayasimha Babu
Bench
petitioner-trust is not an institution. On the other hand, the petitioner-trust is a trust created for a public charitable purpose, falling in Section ... case where the business carried on by the trust is not held under trust for a charitable purpose, but the said income from business being
that the interpretation of a trust deed for considering the liability of the trust for being regarded as a charitable trust under ... primary purpose of the trust would not disqualify the trust from being regarded as a charitable trust. The fact that the trust here carries
that the interpretation of a trust
deed for considering the liability of the trust for being regarded as a
charitable trust under the Income ... primary
purpose of the trust would not disqualify the trust from being regarded as a
charitable trust. The fact that the trust here carries
that the interpretation of a trust deed for considering the liability of the trust for being regarded as a charitable trust under the Income ... primary purpose of the trust would not disqualify the trust from being regarded as a charitable trust. The fact that the trust here carries
Commissioner Of Income-Tax vs Nahata Charitable Trust on 27 July, 1998
Equivalent citations: [2000]246ITR450(MAD)
Author: R.Jayasimha Babu
Bench: R. Jayasimha Babu ... trust known as Nahata Charitable Trust was created under the deed dated September 19, 1969. A perusal of the object clause shows that the objects
Babu
JUDGMENT
R. Jayasimha Babu, J.
1. The assessee is a charitable trust, which is aggrieved by the order of the Director of Income ... while computing the income available for application to charitable and religious purposes by a charitable trust, the depreciation debited to the accounts of the trust
mandate in the trust deed that the income derived from the trust property is to be spent on religious or charitable purposes. Though the document ... user for charitable or religious purposes. Mere use of the words "charitable or religious" in the deed of trust or other document
public, and that trust satisfies the other provisions of the Act, such a trust can be regarded as charitable so long as the profit-making ... income is derived from property held under the trust, the trust is wholly for charitable or religious purposes ; and the exemption is permissible
