https://www.taxtmi.com/caselaws?id=11094 The High Court held that a charitable trust created through a will was valid under section 5(1)(i) of the Wealth-tax Act, even without a formal trust deed. The Court emphasized that the trust was effectively established upon the testator's death, meeting the criteria outlined in the Indian Trusts Act. The trustees were deemed entitled to exemption under the Act, contrary to the Revenue's argument requiring a formal trust deed. The judgment favored the assessee, ruling in favor of the validity of the trust created through the will and granting exemption under section 5(1)(i) against the Revenue. en-us Thu, 15 Jan 2004 00:00:00 +0530 Fri, 31 Jul 2009 08:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11094 The High Court held that a charitable trust created through a will was valid under section 5(1)(i) of the Wealth-tax Act, even without a formal trust deed. The Court emphasized that the trust was effectively established upon the testator's death, meeting the criteria outlined in the Indian Trusts Act. The trustees were deemed entitled to exemption under the Act, contrary to the Revenue's argument requiring a formal trust deed. The judgment favored the assessee, ruling in favor of the validity of the trust created through the will and granting exemption under section 5(1)(i) against the Revenue. Case-Laws Wealth-tax Thu, 15 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11094