Forgot password
New User/ Regiser
⇒ Register to get Live Demo
1997 (4) TMI 7 - SC - Income Tax
Whether, on a proper construction of the trust deed the Tribunal was right in holding that the objects of the trust are not for charitable purposes within the meaning of section 2(15) and that consequently its income is not exempt u/s 11 - assessee claimed that the business carried on by it and from out of which it had derived income was one held under trust and since the trust was for charitable purposes - Held that assessee-trust is entitled to exemption u/s 11 read with section 2(15)