9911796707
TMI Blog1998 (11) TMI 48X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the assessee is entitled to exemption provided under section 5(l)(i) of the Wealth Tax Act, 1957, for the assessment years 1966-67 to 1974-75. It was submitted by counsel at the Bar that for the subsequent years, the Wealth-tax Officer has not denied exemption provided for under section 5(l)(i) of the said Act to the assessee. The assessee is a trust whose objects are wide ranging including im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t be wholly and exclusively engaged in charitable activity. It is sufficient, if its primary or predominant object is charitable. The Tribunal, after a close scrutiny of the terms of the trust deed and the purposes for which the funds and income of the trust has been applied, has held that the object of the trust was predominantly charitable and that all the income of the trust at all times was ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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