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1995 (11) TMI 1 - SUPREME COURT
Assessee is entitled benefit of section 4(3)(i) - income derived by assessee from the trust properties will get exempted u/s 4(3)(i) as the deed of 1955 is held to be having objects of wholly charitable nature - Once it is held that clause 2(b)(i) of the 1945 rectification deed imposed an obligation on the trustees to utilise the trust property for the benefit of the settlor-company's own workmen and employees, it would cease to be projecting an object of providing relief to poor workmen only