https://www.taxtmi.com/caselaws?id=273235 Income from a fair used for the deity's temple and worship was held not to fall within the exemption for property held under trust or other legal obligation. The deed of dedication created an obligation to apply part of the income for religious purposes, but it did not set apart any specific property exclusively for the temple. The income therefore first accrued to the assessee and was only thereafter diverted to meet the obligation, which is insufficient for section 4(3)(i). The arrangement was treated as a private religious trust, outside the statutory exemption. The amount remained assessable in the assessee's hands. en-us Fri, 24 Feb 1956 00:00:00 +0530 Tue, 12 Jun 2018 18:17:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273235 Income from a fair used for the deity's temple and worship was held not to fall within the exemption for property held under trust or other legal obligation. The deed of dedication created an obligation to apply part of the income for religious purposes, but it did not set apart any specific property exclusively for the temple. The income therefore first accrued to the assessee and was only thereafter diverted to meet the obligation, which is insufficient for section 4(3)(i). The arrangement was treated as a private religious trust, outside the statutory exemption. The amount remained assessable in the assessee's hands. Case-Laws Income Tax Fri, 24 Feb 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273235