https://www.taxtmi.com/caselaws?id=17778 A statutory body created to develop an industry in the public interest can fall within the concept of a trust or legal obligation for charitable purposes where its functions are directed to public utility and its funds are earmarked for those purposes. The Rubber Board, constituted under the Rubber Act, 1947, was described as performing statutory duties of development, research, technical advice, and support to growers, with funds set aside for its functions and rehabilitation of small growers. On that basis, it was treated as carrying a legal obligation for advancement of an object of public utility and eligible for exemption under the Kerala Agricultural Income-tax Act provisions governing charitable property. en-us Mon, 26 Feb 1996 00:00:00 +0530 Thu, 24 Sep 2009 16:55:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17778 A statutory body created to develop an industry in the public interest can fall within the concept of a trust or legal obligation for charitable purposes where its functions are directed to public utility and its funds are earmarked for those purposes. The Rubber Board, constituted under the Rubber Act, 1947, was described as performing statutory duties of development, research, technical advice, and support to growers, with funds set aside for its functions and rehabilitation of small growers. On that basis, it was treated as carrying a legal obligation for advancement of an object of public utility and eligible for exemption under the Kerala Agricultural Income-tax Act provisions governing charitable property. Case-Laws Income Tax Mon, 26 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17778