Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1971 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1971 (12) TMI 8 - HC - Income TaxTrust – object of the trust was establishment of Hindu dharamshala - the use of the trust money in the construction of the new dharamshala – immovable properties acquired out of the accumulated income - it was not an investment of trust fund but it was expenditure in furtherance of the trust objective - whole of the net surplus income of the trust properties was, therefore, clearly applied to the charitable purposes for which the trust properties were held by the trustees and was accordingly exempt from tax under section 11, sub-section (1), clause (a)
|