https://www.taxtmi.com/caselaws?id=20277 The High Court affirmed the Tribunal's decision that the assessee trust was not entitled to exemption under section 11 of the Income-tax Act, 1961. The court held that the provision in the trust deed allowing a portion of the income for the donor-founder's family's social and customary needs rendered the trust ineligible for the exemption as it did not meet the requirement of holding property wholly for charitable purposes. The court ruled against the assessee, with no order as to costs. en-us Tue, 11 Aug 1992 00:00:00 +0530 Fri, 13 Nov 2009 10:06:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20277 The High Court affirmed the Tribunal's decision that the assessee trust was not entitled to exemption under section 11 of the Income-tax Act, 1961. The court held that the provision in the trust deed allowing a portion of the income for the donor-founder's family's social and customary needs rendered the trust ineligible for the exemption as it did not meet the requirement of holding property wholly for charitable purposes. The court ruled against the assessee, with no order as to costs. Case-Laws Income Tax Tue, 11 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20277