1997 (8) TMI 10

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....x Appellate Tribunal, Madras, has negatived the assessee's claim for exemption from taxes for the assessment year 1983-84 on the ground that the assessee had failed to comply with the requirement of section 4(b) of the Tamil Nadu Agricultural Income-tax Act, 1955, inasmuch as the assessee had failed to prove that for the assessment year in question, the assessee's income from the property held in ....

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....Income-tax Act, 1961, holding the assessee's income as exempt for tax on the ground that it is a charitable institution for this assessment year. Section 4(b) of the Tamil Nadu Agricultural Income-tax Act reads as under : "any agricultural income derived from property held under trust, wholly or partly for charitable or religious purposes, to the same extent to which income derived from prop....