1966 (7) TMI 5

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..... ee, the Agricultural Income-tax Officer, Kumbakonam, by his order dated August 31, 1962, exempted from tax, under section 4(b) of the Madras Agricultural Income-tax Act, 1955, the income from certain lands specified in the order as being wholly held under trust for religious or charitable purposes. The Commissioner of Agricultural Income-tax, in exercise of his powers under section 34 and by order .....

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..... for such purposes, the income applied thereto ". This clause contemplates two categories of trust: (1) property held under trust wholly for religious or charitable purposes and (2) property so held in part only for such purposes. The income from the first category will not form part of the total agricultural income. But, under the second category, that will be so only to that part of the income n .....

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..... the management of any turn trustee, there was surplus over expenditure, such surplus might be appropriated for himself by such turn trustee. That provision relating to the surplus does not in any way affect or detract from the entirety of the properties having been endowed and held as trust. As held by the Supreme Court in Dasaratharami Reddi v. Subba Rao, where the dedication is complete, a trus .....

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