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of <h1>Appeal dismissed; association's memorandum restricts income to religious and charitable purposes, entitling it to s.11 and s.4(3)(i) benefits</h1> <h3>Commissioner of Income-Tax, Gujarat III Versus Ahmedabad Rana Caste Association</h3> SC upheld the HC's finding that the respondent association's memorandum objects, including sub-clauses relied on, sufficiently restrict application of ... Claim for exemption u/s 11 - entitlement to the benefit u/s 4(3)(i) - HELD THAT:- Before the High Court the controversy centred around sub-cls. (4) and (5) of cl. 3 of the memorandum of association of the respondent-association as well as sub-cl. (4) of cl. 8. The High Court after considering the entire matter at length in the light of the prevailing case law has found that the objects sufficiently control the application of the income derived by the respondent-association to purposes which can be described as entirely religious and charitable. After hearing the learned counsel for the parties we see no reason for interfering with the judgment of the High Court. Appeals are dismissed. The Supreme Court dismissed the appeals against the High Court judgment regarding income tax exemption for an assessee-trust under sections 4(3)(i) of the Indian I.T. Act, 1922, and 11 of the I.T. Act, 1961. The High Court found that the respondent association's objects sufficiently controlled the application of income for religious and charitable purposes. The appeals were dismissed, and costs were awarded in one set.
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