https://www.taxtmi.com/caselaws?id=69501 The High Court held that the trust was not constituted for charitable or religious purposes under the Income-tax Act, denying income tax exemption. However, the Tribunal ruled that the trust property was held for public religious purposes, exempting it from wealth tax under Section 5(1)(i) of the Wealth-tax Act. The Tribunal allowed the revenue's appeal on income tax but dismissed appeals on wealth tax assessments, affirming the trust property's exemption from wealth tax. en-us Tue, 22 Mar 1983 00:00:00 +0530 Thu, 07 Apr 2011 13:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69501 The High Court held that the trust was not constituted for charitable or religious purposes under the Income-tax Act, denying income tax exemption. However, the Tribunal ruled that the trust property was held for public religious purposes, exempting it from wealth tax under Section 5(1)(i) of the Wealth-tax Act. The Tribunal allowed the revenue's appeal on income tax but dismissed appeals on wealth tax assessments, affirming the trust property's exemption from wealth tax. Case-Laws Wealth-tax Tue, 22 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69501