https://www.taxtmi.com/caselaws?id=13181 Properties held under a trust for charitable and religious objects qualify for wealth-tax exemption where the trust's primary and predominant purpose is charitable, even if it also serves religious functions. The trust here was directed to running schools, managing a mosque and darga, and helping needy members of the community, and the assets were held for a public purpose in India. As no part of the assets was found to form part of a business or to be used outside India, the exemption under section 5(1)(i) of the Wealth-tax Act, 1957 applied and the assessee was entitled to relief. en-us Thu, 28 Jun 2001 00:00:00 +0530 Tue, 26 May 2009 18:24:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13181 Properties held under a trust for charitable and religious objects qualify for wealth-tax exemption where the trust's primary and predominant purpose is charitable, even if it also serves religious functions. The trust here was directed to running schools, managing a mosque and darga, and helping needy members of the community, and the assets were held for a public purpose in India. As no part of the assets was found to form part of a business or to be used outside India, the exemption under section 5(1)(i) of the Wealth-tax Act, 1957 applied and the assessee was entitled to relief. Case-Laws Income Tax Thu, 28 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13181