https://www.taxtmi.com/caselaws?id=181425 A trust whose dominant object was to award scholarships to descendants of a named family, with only limited discretion to assist others from a specified community and to make advances to start a scholar in life, was not wholly for charitable purposes because the Act required a public element. The provision for advances was also non-charitable, so the income did not qualify for exemption. As the deed gave trustees discretion over recipients, numbers, amounts, and application of income, the beneficiaries were not fixed in definite shares and the income fell within the trustee charging provision, making it assessable at the maximum rate in the hands of the trustees. en-us Fri, 23 Mar 1945 00:00:00 +0630 Sat, 16 Apr 2016 15:55:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181425 A trust whose dominant object was to award scholarships to descendants of a named family, with only limited discretion to assist others from a specified community and to make advances to start a scholar in life, was not wholly for charitable purposes because the Act required a public element. The provision for advances was also non-charitable, so the income did not qualify for exemption. As the deed gave trustees discretion over recipients, numbers, amounts, and application of income, the beneficiaries were not fixed in definite shares and the income fell within the trustee charging provision, making it assessable at the maximum rate in the hands of the trustees. Case-Laws Income Tax Fri, 23 Mar 1945 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=181425