https://www.taxtmi.com/caselaws?id=27889 Trust income was not exempt where the deed, as it stood in the relevant assessment years, authorised application of funds to non-charitable objects and permitted trade or business; on that record, exemption under the 1922 Act and sections 11 and 12 of the 1961 Act failed. A later rectification of the deed could not be used in reference proceedings because the High Court is confined to the material already on record and cannot direct fresh evidence on a subsequent event. The reference was therefore answered against the assessee, and the request for remand was rejected. en-us Thu, 10 Nov 1983 00:00:00 +0530 Tue, 16 Feb 2010 16:35:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27889 Trust income was not exempt where the deed, as it stood in the relevant assessment years, authorised application of funds to non-charitable objects and permitted trade or business; on that record, exemption under the 1922 Act and sections 11 and 12 of the 1961 Act failed. A later rectification of the deed could not be used in reference proceedings because the High Court is confined to the material already on record and cannot direct fresh evidence on a subsequent event. The reference was therefore answered against the assessee, and the request for remand was rejected. Case-Laws Income Tax Thu, 10 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27889