https://www.taxtmi.com/caselaws?id=5484 A rectified trust deed can be relied upon in income-tax proceedings even though the rectification decree is not a judgment in rem, because the tax authorities cannot ignore a valid amendment to the instrument on which the claim is based. The 1955 rectification operated prospectively and did not alter prior assessment years. The 1945 rectified deed, being confined in substance to the company's workmen, staff and employees, was not wholly charitable, so exemption was denied for 1949-50 to 1955-56. The 1955 rectified deed, read as a whole, created a public charitable trust for a defined public class, so exemption was allowed for 1956-57 to 1965-66. en-us Thu, 16 Nov 1995 00:00:00 +0530 Fri, 02 May 2014 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5484 A rectified trust deed can be relied upon in income-tax proceedings even though the rectification decree is not a judgment in rem, because the tax authorities cannot ignore a valid amendment to the instrument on which the claim is based. The 1955 rectification operated prospectively and did not alter prior assessment years. The 1945 rectified deed, being confined in substance to the company's workmen, staff and employees, was not wholly charitable, so exemption was denied for 1949-50 to 1955-56. The 1955 rectified deed, read as a whole, created a public charitable trust for a defined public class, so exemption was allowed for 1956-57 to 1965-66. Case-Laws Income Tax Thu, 16 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5484