https://www.taxtmi.com/caselaws?id=49372 The court affirmed the High Court's decision that the Arya Vaidya Sala business, held in trust for religious and charitable purposes, qualified for exemption from income tax for the 60% of income used for such purposes. The court clarified that the proviso in Section 4(3)(i) applies to businesses not held in trust for religious or charitable institutions. The appeals were dismissed, upholding the High Court's interpretation of the relevant provisions. en-us Wed, 29 Apr 1964 00:00:00 +0530 Wed, 18 May 2016 17:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49372 The court affirmed the High Court's decision that the Arya Vaidya Sala business, held in trust for religious and charitable purposes, qualified for exemption from income tax for the 60% of income used for such purposes. The court clarified that the proviso in Section 4(3)(i) applies to businesses not held in trust for religious or charitable institutions. The appeals were dismissed, upholding the High Court's interpretation of the relevant provisions. Case-Laws Income Tax Wed, 29 Apr 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49372