https://www.taxtmi.com/caselaws?id=24651 A valid endowment to a temple requires the income from the endowed property to be assessed on a substantive basis, not merely on a protective basis, where earlier judicial approval of the endowment stands unreversed. The deed of endowment dated 20 August 1954 executed by Seth Gopaldas was upheld as valid in law, and the Tribunal's view that the temple income should be assessed substantively was affirmed. The governing principle is that once the endowment is legally valid, the income attributable to the endowed property cannot be treated as the settlor's income on a substantive footing solely because a protective assessment had been made. en-us Fri, 05 Aug 1988 00:00:00 +0530 Thu, 21 Jan 2010 14:56:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24651 A valid endowment to a temple requires the income from the endowed property to be assessed on a substantive basis, not merely on a protective basis, where earlier judicial approval of the endowment stands unreversed. The deed of endowment dated 20 August 1954 executed by Seth Gopaldas was upheld as valid in law, and the Tribunal's view that the temple income should be assessed substantively was affirmed. The governing principle is that once the endowment is legally valid, the income attributable to the endowed property cannot be treated as the settlor's income on a substantive footing solely because a protective assessment had been made. Case-Laws Income Tax Fri, 05 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24651