https://www.taxtmi.com/caselaws?id=173730 Income applied under a society's constitution was not exempt where the memorandum and rules authorised both charitable and non-charitable objects. The governing test under section 4(3)(i) of the Indian Income-tax Act required property to be held under a trust or other legal obligation wholly for religious or charitable purposes, or, if only partly so held, for the relevant income to be applied or finally set apart for those purposes. Because the society's objects included social, moral, physical and material improvement of the community, funds for marriage and funeral ceremonies, regulation of social luxuries, and preservation of monuments, the property could not be treated as held wholly for charitable purposes. The exemption claim therefore failed. en-us Fri, 02 Mar 1962 00:00:00 +0530 Mon, 21 Sep 2015 18:10:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173730 Income applied under a society's constitution was not exempt where the memorandum and rules authorised both charitable and non-charitable objects. The governing test under section 4(3)(i) of the Indian Income-tax Act required property to be held under a trust or other legal obligation wholly for religious or charitable purposes, or, if only partly so held, for the relevant income to be applied or finally set apart for those purposes. Because the society's objects included social, moral, physical and material improvement of the community, funds for marriage and funeral ceremonies, regulation of social luxuries, and preservation of monuments, the property could not be treated as held wholly for charitable purposes. The exemption claim therefore failed. Case-Laws Income Tax Fri, 02 Mar 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173730