https://www.taxtmi.com/caselaws?id=272908 On the terms of the Hindu endowment, the two deities were held to take equal and determinate beneficial interests, because a dedication to both deities together does not by itself create a joint estate or leave income allocation to the sebait's discretion. The expenditure schedule and operative clauses showed no contrary intention, and clause 5(a) was construed only as permitting adjustment of expenses between surplus and deficit for each deity. As the interests were definite and equal, the proviso to section 41 of the Income-tax Act did not apply and assessment at the maximum rate was not attracted. en-us Fri, 16 Mar 1956 00:00:00 +0530 Thu, 24 May 2018 14:33:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272908 On the terms of the Hindu endowment, the two deities were held to take equal and determinate beneficial interests, because a dedication to both deities together does not by itself create a joint estate or leave income allocation to the sebait's discretion. The expenditure schedule and operative clauses showed no contrary intention, and clause 5(a) was construed only as permitting adjustment of expenses between surplus and deficit for each deity. As the interests were definite and equal, the proviso to section 41 of the Income-tax Act did not apply and assessment at the maximum rate was not attracted. Case-Laws Income Tax Fri, 16 Mar 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272908