Appeal dismissed; association's memorandum restricts income to religious and charitable purposes, entitling it to s.11 and s.4(3)(i) benefits

SC upheld the HC's finding that the respondent association's memorandum objects, including sub-clauses relied on, sufficiently restrict application of income to entirely religious and charitable purposes, entitling it to exemption under s.11 and benefit under s.4(3)(i). After review, SC found no reason to interfere and dismissed the appeals, affirming the HC judgment.

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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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