https://www.taxtmi.com/caselaws?id=36415 A Kerala HC decision on a charitable trust arrangement distinguished a business held under trust from a business merely carried on for trust purposes. On the will's construction, the Arya Vaidya Sala business itself formed trust property, with a dominant charitable character centred on medical relief, education and relief of the poor; its income was therefore exempt. The court also treated amounts earmarked or spent for the Sala, Hospital and Patasala as part of the charitable administration and not as taxable business income, and regarded the earlier contrary approach as having misread the trust deed and exemption scheme. en-us Fri, 23 Nov 1979 00:00:00 +0530 Mon, 22 Mar 2010 11:58:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36415 A Kerala HC decision on a charitable trust arrangement distinguished a business held under trust from a business merely carried on for trust purposes. On the will's construction, the Arya Vaidya Sala business itself formed trust property, with a dominant charitable character centred on medical relief, education and relief of the poor; its income was therefore exempt. The court also treated amounts earmarked or spent for the Sala, Hospital and Patasala as part of the charitable administration and not as taxable business income, and regarded the earlier contrary approach as having misread the trust deed and exemption scheme. Case-Laws Income Tax Fri, 23 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36415