https://www.taxtmi.com/caselaws?id=193194 Whether income deemed by statute to be that of a settlor under Section 16(1)(c) is exempt when derived from property held on a trust wholly for charitable purposes: the statutory deeming provision must be read subject to the exemption in Section 4(3), so deemed receipt qualifies as "received" for exemption purposes and such income is excluded from the charge to tax. Whether a Parsi may create a revocable trust of personalty for charity: in absence of a governing personal law, common law permits creation of a revocable trust of personalty in favour of charity, enabling exemption treatment where applicable. en-us Thu, 11 Mar 1948 00:00:00 +0530 Sat, 15 Jul 2017 17:56:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193194 Whether income deemed by statute to be that of a settlor under Section 16(1)(c) is exempt when derived from property held on a trust wholly for charitable purposes: the statutory deeming provision must be read subject to the exemption in Section 4(3), so deemed receipt qualifies as "received" for exemption purposes and such income is excluded from the charge to tax. Whether a Parsi may create a revocable trust of personalty for charity: in absence of a governing personal law, common law permits creation of a revocable trust of personalty in favour of charity, enabling exemption treatment where applicable. Case-Laws Income Tax Thu, 11 Mar 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193194