https://www.taxtmi.com/caselaws?id=8038 Income from trust property is exempt under section 4(3)(i) of the Indian Income-tax Act, 1922 only where the property is held wholly for religious or charitable purposes. A trust deed that permits the trustees to apply the property to independent objects, including any non-charitable object, falls outside that exemption even if charitable objects are also included. Non-charitable purposes such as carrying on business, industrial or commercial concerns, when capable of independent operation and not merely incidental to the charitable objects, prevent the property from being regarded as held wholly for charity. On that basis, the trust income was not exempt and the question was answered against exemption. en-us Tue, 26 May 1970 00:00:00 +0530 Fri, 27 Mar 2009 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8038 Income from trust property is exempt under section 4(3)(i) of the Indian Income-tax Act, 1922 only where the property is held wholly for religious or charitable purposes. A trust deed that permits the trustees to apply the property to independent objects, including any non-charitable object, falls outside that exemption even if charitable objects are also included. Non-charitable purposes such as carrying on business, industrial or commercial concerns, when capable of independent operation and not merely incidental to the charitable objects, prevent the property from being regarded as held wholly for charity. On that basis, the trust income was not exempt and the question was answered against exemption. Case-Laws Income Tax Tue, 26 May 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8038