https://www.taxtmi.com/caselaws?id=175354 Income derived from investments held under a legal obligation solely for legal education was treated as exempt under the charitable-purpose exemption because education falls within the statutory meaning of charity. By contrast, enrolment fees and examination fees were not referable to property held for educational purposes and therefore remained taxable under the charging provision. The stated principle is that exemption depends on a direct link between the income-producing property and the charitable purpose, while fee income unconnected with that property is assessable to tax. en-us Mon, 09 Nov 1942 00:00:00 +0630 Wed, 18 Nov 2015 17:52:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175354 Income derived from investments held under a legal obligation solely for legal education was treated as exempt under the charitable-purpose exemption because education falls within the statutory meaning of charity. By contrast, enrolment fees and examination fees were not referable to property held for educational purposes and therefore remained taxable under the charging provision. The stated principle is that exemption depends on a direct link between the income-producing property and the charitable purpose, while fee income unconnected with that property is assessable to tax. Case-Laws Income Tax Mon, 09 Nov 1942 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=175354