https://www.taxtmi.com/caselaws?id=175493 Income from trust property was held outside the exemption under section 4(3)(i) of the Indian Income-tax Act, 1922 because the trust deed allowed application of funds to objects that could be carried out outside the taxable territories. Although the trust was genuine and charitable in character, the statutory benefit required the income to be wholly applied, or accumulated for application, only to religious or charitable purposes relating to acts within the taxable territories. Accumulation was treated as part of the application requirement, and the exemption failed where it could not be shown with certainty that the income would be confined to in-territory purposes. en-us Fri, 14 Sep 1962 00:00:00 +0530 Tue, 24 Nov 2015 12:14:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175493 Income from trust property was held outside the exemption under section 4(3)(i) of the Indian Income-tax Act, 1922 because the trust deed allowed application of funds to objects that could be carried out outside the taxable territories. Although the trust was genuine and charitable in character, the statutory benefit required the income to be wholly applied, or accumulated for application, only to religious or charitable purposes relating to acts within the taxable territories. Accumulation was treated as part of the application requirement, and the exemption failed where it could not be shown with certainty that the income would be confined to in-territory purposes. Case-Laws Income Tax Fri, 14 Sep 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175493