https://www.taxtmi.com/caselaws?id=193194 Income deemed to accrue under a revocation provision was treated as covered by the exemption for property held under trust for charitable purposes, so the trust income was not liable to tax. The court also recognised that, in the absence of contrary personal law, a Parsi in British India could validly create a revocable trust of personal property for a charitable purpose. On that basis, the trust was held valid and charitable, and the reference was answered in favour of the assessee with the trust income not chargeable to tax. 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 Income deemed to accrue under a revocation provision was treated as covered by the exemption for property held under trust for charitable purposes, so the trust income was not liable to tax. The court also recognised that, in the absence of contrary personal law, a Parsi in British India could validly create a revocable trust of personal property for a charitable purpose. On that basis, the trust was held valid and charitable, and the reference was answered in favour of the assessee with the trust income not chargeable to tax. Case-Laws Income Tax Thu, 11 Mar 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193194