TMI Blog1984 (8) TMI 30X X X X Extracts X X X X X X X X Extracts X X X X ..... ew and Ladoo Gopal and erected a temple at Villa Rose being premises No. 156, Victoria Road, Baranagore. By a deed of settlement dated February 14, 1951, the settlor dedicated certain properties into the said deities. He constituted himself as the first trustee/shebait with a right of residence for himself and his family. It was provided in the deed that the net income of the properties after defr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tention of the Revenue. The Tribunal, however, allowed 20% of the income that was remained unspent as exempt from income-tax under s. 4(3)(i) of the Indian I.T. Act, 1922. On that aspect of the matter, the Revenue has raised the following question of law : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that 20% of the balance net income of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g that the assessee's income from property was liable to be assessed under section 9 of the Indian Income-tax Act, 1922 ? " Since nobody has appeared on behalf of the assessee, the question raised by the assessee need not be answered. We are only concerned with the case of the Revenue that the Tribunal was not justified in holding the 20% of the balance of net income of the trust property was ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... purposes. There is no reason why this finding should be disturbed. In our opinion, the Tribunal has not committed any error of law. The fact is that a portion of the income of the trust was not spent for charity. It was also not spent for any non-charitable object. Whether the balance that was carried forward can be described as having been set apart is not the real issue. The money has been carri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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