https://www.taxtmi.com/caselaws?id=191882 Income derived from a business held under trust for religious or charitable purposes was treated as income from property held under trust, because "property" in section 4(3)(i) of the Income-tax Act, 1922 includes a business. Section 4(3)(ia) was construed as applying to business carried on on behalf of a religious or charitable institution where the business itself is not held in trust. The two provisions were held to operate in different fields, so section 4(3)(ia) did not narrow section 4(3)(i). On that construction, the income fell within section 4(3)(i) and the exemption was available. en-us Tue, 10 Sep 1957 00:00:00 +0530 Sat, 29 Apr 2017 18:14:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191882 Income derived from a business held under trust for religious or charitable purposes was treated as income from property held under trust, because "property" in section 4(3)(i) of the Income-tax Act, 1922 includes a business. Section 4(3)(ia) was construed as applying to business carried on on behalf of a religious or charitable institution where the business itself is not held in trust. The two provisions were held to operate in different fields, so section 4(3)(ia) did not narrow section 4(3)(i). On that construction, the income fell within section 4(3)(i) and the exemption was available. Case-Laws Income Tax Tue, 10 Sep 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191882