https://www.taxtmi.com/caselaws?id=9031 A written constitution binding the standing committee, managing committee and members can satisfy the requirement that property be held under trust or other legal obligation for exemption under section 4(3)(i) of the Income-tax Act, 1922. Where the governing instrument restricts the collection and use of funds to the association's stated charitable objects, a formal deed of trust is not essential. If the property cannot be applied for purposes outside the objects clause, the statutory condition is met and the exemption is available. en-us Thu, 05 Jul 1973 00:00:00 +0530 Thu, 18 Jun 2009 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9031 A written constitution binding the standing committee, managing committee and members can satisfy the requirement that property be held under trust or other legal obligation for exemption under section 4(3)(i) of the Income-tax Act, 1922. Where the governing instrument restricts the collection and use of funds to the association's stated charitable objects, a formal deed of trust is not essential. If the property cannot be applied for purposes outside the objects clause, the statutory condition is met and the exemption is available. Case-Laws Income Tax Thu, 05 Jul 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9031