https://www.taxtmi.com/caselaws?id=196430 The note addresses whether property under a wakf deed qualifies as held wholly for religious or charitable purposes for tax exemption. It applies statutory construction principles, holding that the phrase must be read by its ordinary legal meaning rather than by the settlor's personal law. The analysis finds the Mussalman Wakf Validating Act does not convert gifts reserving income for the settlor and his children into trusts wholly for religious or charitable purposes. Because the deed reserved private maintenance and only contingently allowed religious or charitable application, the property was not wholly held for such purposes and the income is assessable to tax. en-us Fri, 05 Jun 1931 00:00:00 +0530 Thu, 30 Nov 2017 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196430 The note addresses whether property under a wakf deed qualifies as held wholly for religious or charitable purposes for tax exemption. It applies statutory construction principles, holding that the phrase must be read by its ordinary legal meaning rather than by the settlor's personal law. The analysis finds the Mussalman Wakf Validating Act does not convert gifts reserving income for the settlor and his children into trusts wholly for religious or charitable purposes. Because the deed reserved private maintenance and only contingently allowed religious or charitable application, the property was not wholly held for such purposes and the income is assessable to tax. Case-Laws Income Tax Fri, 05 Jun 1931 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196430