1981 (4) TMI 10 - SC - Income Tax

Claim for exemption u/s 11 - held that the income of the assessee-trust is exempt u/s. 4(3)(I) of the Indian IT Act, 1922, and s. 11 of the IT Act, 1961 - no reason for interfering with the judgment of the High Court

Summary

The Supreme Court dismissed the appeals against the High Court judgment regarding income tax exemption for an assessee-trust under sections 4(3)(i) of the Indian I.T. Act, 1922, and 11 of the I.T. Act, 1961. The High Court found that the respondent association's objects sufficiently controlled the application of income for religious and charitable purposes. The appeals were dismissed, and costs were awarded in one set.