https://www.taxtmi.com/caselaws?id=38013 Section 5(1)(i) exemption under the Wealth-tax Act applies only where property is held under a trust or other legal obligation for a public purpose of a charitable or religious nature, and the assessee bears the burden of proving that entitlement. A club with mixed objects, including charitable aims as well as non-charitable and business-oriented purposes such as promoting race meetings and operating as a race club, did not satisfy that test. Where assets are used for both charitable and non-charitable activities, the exemption is unavailable. Mutuality did not assist because the assets were applied beyond members and to non-charitable activities. en-us Fri, 14 Oct 1977 00:00:00 +0530 Fri, 02 Apr 2010 15:28:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38013 Section 5(1)(i) exemption under the Wealth-tax Act applies only where property is held under a trust or other legal obligation for a public purpose of a charitable or religious nature, and the assessee bears the burden of proving that entitlement. A club with mixed objects, including charitable aims as well as non-charitable and business-oriented purposes such as promoting race meetings and operating as a race club, did not satisfy that test. Where assets are used for both charitable and non-charitable activities, the exemption is unavailable. Mutuality did not assist because the assets were applied beyond members and to non-charitable activities. Case-Laws Wealth-tax Fri, 14 Oct 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38013