https://www.taxtmi.com/caselaws?id=193048 Income from a trust is exempt only if the property is held wholly for charitable purposes, understood in the ordinary legal sense as a public purpose or a benefit to the community, or to a sufficiently defined section of it. A trust deed that permits discretionary grants to present, past and future employees of named companies and their dependants, including assistance based on service as well as need, does not satisfy that test because the class is a fluctuating body of private persons. The trust was therefore not wholly charitable, and the income was not exempt under section 4(3)(i) of the Income-tax Act, 1922. en-us Thu, 14 May 1942 00:00:00 +0630 Tue, 11 Jul 2017 11:56:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193048 Income from a trust is exempt only if the property is held wholly for charitable purposes, understood in the ordinary legal sense as a public purpose or a benefit to the community, or to a sufficiently defined section of it. A trust deed that permits discretionary grants to present, past and future employees of named companies and their dependants, including assistance based on service as well as need, does not satisfy that test because the class is a fluctuating body of private persons. The trust was therefore not wholly charitable, and the income was not exempt under section 4(3)(i) of the Income-tax Act, 1922. Case-Laws Income Tax Thu, 14 May 1942 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=193048