https://www.taxtmi.com/caselaws?id=17774 The High Court held that objects Nos. 2 to 5 were not supplementary to object No. 1 in the memorandum of association as they were not necessary for achieving the main object. Regarding the exemption under section 10(26B) of the Income-tax Act, the Court partially agreed that income from housing schemes for Scheduled Castes is exempt, provided it is separable from other income. The Court suggested amending the main object to align with the provision. The case outcome favored the Revenue on the first issue and partially favored the assessee on the second issue, remanding the case for further proceedings. en-us Wed, 06 Dec 1995 00:00:00 +0530 Thu, 24 Sep 2009 16:47:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17774 The High Court held that objects Nos. 2 to 5 were not supplementary to object No. 1 in the memorandum of association as they were not necessary for achieving the main object. Regarding the exemption under section 10(26B) of the Income-tax Act, the Court partially agreed that income from housing schemes for Scheduled Castes is exempt, provided it is separable from other income. The Court suggested amending the main object to align with the provision. The case outcome favored the Revenue on the first issue and partially favored the assessee on the second issue, remanding the case for further proceedings. Case-Laws Income Tax Wed, 06 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17774