https://www.taxtmi.com/caselaws?id=36319 A trust deed may be rectified under section 26 of the Specific Relief Act, and if the court makes that rectification retrospective, the amended deed binds both the trustees and the income-tax authorities. The revenue cannot disregard the court-directed amendment and proceed on the basis of the original deed. For exemption under sections 11 and 12 of the Income-tax Act, the amended deed may support charitable status, but exemption still depends on the trust's actual conduct and application of income during the relevant years. If the trustees in fact acted on objectionable clauses or pursued profit-making activities, exemption may still be denied on the statutory test of charitable purpose. en-us Fri, 23 May 1980 00:00:00 +0530 Tue, 22 Dec 2015 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36319 A trust deed may be rectified under section 26 of the Specific Relief Act, and if the court makes that rectification retrospective, the amended deed binds both the trustees and the income-tax authorities. The revenue cannot disregard the court-directed amendment and proceed on the basis of the original deed. For exemption under sections 11 and 12 of the Income-tax Act, the amended deed may support charitable status, but exemption still depends on the trust's actual conduct and application of income during the relevant years. If the trustees in fact acted on objectionable clauses or pursued profit-making activities, exemption may still be denied on the statutory test of charitable purpose. Case-Laws Income Tax Fri, 23 May 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36319