https://www.taxtmi.com/caselaws?id=36799 Income from a business exploiting trust-held patents was treated differently depending on the trust deed and the governing Act. For 1958-59 and 1959-60, exemption failed because the deed did not authorise manufacture and marketing, so the business was not part of property held under trust. For 1960-61 and 1961-62, exemption was available after clause 2(j) expressly authorised that business and its income was applied to trust objects. For 1962-63 and 1963-64, exemption failed under the 1961 Act because the manufacturing and marketing activity was for profit and therefore fell outside "charitable purpose" under section 2(15). en-us Tue, 05 Jul 1977 00:00:00 +0530 Wed, 24 Mar 2010 16:06:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36799 Income from a business exploiting trust-held patents was treated differently depending on the trust deed and the governing Act. For 1958-59 and 1959-60, exemption failed because the deed did not authorise manufacture and marketing, so the business was not part of property held under trust. For 1960-61 and 1961-62, exemption was available after clause 2(j) expressly authorised that business and its income was applied to trust objects. For 1962-63 and 1963-64, exemption failed under the 1961 Act because the manufacturing and marketing activity was for profit and therefore fell outside "charitable purpose" under section 2(15). Case-Laws Income Tax Tue, 05 Jul 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36799