https://www.taxtmi.com/caselaws?id=16675 The court ruled against the assessee in a case concerning the exemption under Section 11 of the Income-tax Act and the principle of mutuality. The court held that the trust did not qualify as a charitable trust under Section 11 as its objects did not fall within the purview of the relevant sections, based on precedent. Additionally, the court determined that the principle of mutuality did not apply to the trust's income, as it included external sources like bank interest, thus denying the trust's claim for exemption based on mutuality. en-us Fri, 24 Jul 1998 00:00:00 +0530 Wed, 09 Sep 2009 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16675 The court ruled against the assessee in a case concerning the exemption under Section 11 of the Income-tax Act and the principle of mutuality. The court held that the trust did not qualify as a charitable trust under Section 11 as its objects did not fall within the purview of the relevant sections, based on precedent. Additionally, the court determined that the principle of mutuality did not apply to the trust's income, as it included external sources like bank interest, thus denying the trust's claim for exemption based on mutuality. Case-Laws Income Tax Fri, 24 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16675