1999 (10) TMI 52 - HC - Income Tax

Summary

The High Court of Madras ruled in favor of the assessee in a case involving an educational trust. The Tribunal found no infringement of income tax provisions and no diversion of trust funds for the benefit of trustees. The court upheld the Tribunal's decision, stating that there were no errors in the judgment. The assessee was granted exemption from wealth tax for the relevant assessment years.