https://www.taxtmi.com/caselaws?id=15328 A trust deed was treated as creating a valid charitable trust because it mandated that, if the settlor left no wife or children, the trust properties be applied only for charitable purposes chosen by the trustees. The governing test was whether the deed required application of the trust property and income to charity, not merely the source of income. Construed in context, "properties" included income derived from them, and the trustees' discretion was confined to selecting among charitable objects. The trust estate was therefore directed solely to charitable use, supporting assessment under section 21(1) read with section 21A of the Wealth-tax Act, 1957. en-us Wed, 18 Nov 1998 00:00:00 +0530 Tue, 04 Aug 2009 17:35:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15328 A trust deed was treated as creating a valid charitable trust because it mandated that, if the settlor left no wife or children, the trust properties be applied only for charitable purposes chosen by the trustees. The governing test was whether the deed required application of the trust property and income to charity, not merely the source of income. Construed in context, "properties" included income derived from them, and the trustees' discretion was confined to selecting among charitable objects. The trust estate was therefore directed solely to charitable use, supporting assessment under section 21(1) read with section 21A of the Wealth-tax Act, 1957. Case-Laws Income Tax Wed, 18 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15328