https://www.taxtmi.com/caselaws?id=8065 Income reserved under a trust deed for the founder's descendants was treated as a private beneficent object, not a public charity, because the public was not the direct beneficiary class. The Court also held that income applied to descendants did not fall within "charitable purposes" under section 4(b) of the Agricultural Income-tax Act, 1950, and that a clause for corpus augmentation did not itself create immediate charitable application or tax exemption. Reading the deed as a whole, the dominant purpose remained mixed with private family benefit, so the properties were not held wholly for religious or charitable purposes and the exemption claim failed. en-us Thu, 18 Dec 1969 00:00:00 +0530 Fri, 27 Mar 2009 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8065 Income reserved under a trust deed for the founder's descendants was treated as a private beneficent object, not a public charity, because the public was not the direct beneficiary class. The Court also held that income applied to descendants did not fall within "charitable purposes" under section 4(b) of the Agricultural Income-tax Act, 1950, and that a clause for corpus augmentation did not itself create immediate charitable application or tax exemption. Reading the deed as a whole, the dominant purpose remained mixed with private family benefit, so the properties were not held wholly for religious or charitable purposes and the exemption claim failed. Case-Laws Income Tax Thu, 18 Dec 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8065