https://www.taxtmi.com/caselaws?id=176441 The court affirmed the 'Shri Chandraprabhu Khandelwal Jain Temple' as a public trust with income exceeding Rs. 1,000. It found discrepancies in the temple's account books, concluding that the defendant misused temple funds for personal business. The defendant was held liable for compound interest on misappropriated funds, rejecting the application of the Damdupat rule. The court ordered a reassessment of the due amount, emphasizing the calculation of compound interest. The decree was set aside for fresh determination, with costs borne by the estate and cross-objections dismissed. en-us Tue, 15 Sep 1959 00:00:00 +0530 Tue, 22 Dec 2015 17:48:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176441 The court affirmed the 'Shri Chandraprabhu Khandelwal Jain Temple' as a public trust with income exceeding Rs. 1,000. It found discrepancies in the temple's account books, concluding that the defendant misused temple funds for personal business. The defendant was held liable for compound interest on misappropriated funds, rejecting the application of the Damdupat rule. The court ordered a reassessment of the due amount, emphasizing the calculation of compound interest. The decree was set aside for fresh determination, with costs borne by the estate and cross-objections dismissed. Case-Laws Indian Laws Tue, 15 Sep 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176441