https://www.taxtmi.com/caselaws?id=15824 The Court found that the property held by the mutawalli under trust was for public charitable or religious purposes, in accordance with Muslim law and the Musalman Wakf Validating Act, 1913. It was established that the waqf served charitable activities, with income allocated for such purposes and the corpus vested in God. The public had a significant interest in both the income and corpus of the waqf property, meeting the exemption criteria under section 5(1)(i) of the Wealth-tax Act. The Court upheld the Tribunal's decision, granting the assessee exemption and ruling in their favor against the Department. en-us Wed, 10 Feb 1999 00:00:00 +0530 Sat, 29 Aug 2009 13:26:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15824 The Court found that the property held by the mutawalli under trust was for public charitable or religious purposes, in accordance with Muslim law and the Musalman Wakf Validating Act, 1913. It was established that the waqf served charitable activities, with income allocated for such purposes and the corpus vested in God. The public had a significant interest in both the income and corpus of the waqf property, meeting the exemption criteria under section 5(1)(i) of the Wealth-tax Act. The Court upheld the Tribunal's decision, granting the assessee exemption and ruling in their favor against the Department. Case-Laws Wealth-tax Wed, 10 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15824