9911796707
TMI Blog1973 (7) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... provides for elected standing committee and managing committee for administration of the trust, whether it can claim exemption under section 4(3)(i) - - - - - Dated:- 5-7-1973 - Judge(s) : KANTAWALA., TULZAPURKAR. JUDGMENT The judgment of the court was delivered by KANTAWALA C. J.-This is a reference under section 66(1), of the Income-tax Act, 1922 (hereinafter referred to as " the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 1 thereof. There is a provision for an elected standing committee and the constitution, functions and duties of the standing committee are provided in clause 8 of the constitution. The constitution also provides for a smaller body which is entitled managing committee and its constitution and other functions are laid down in clause 9 of the constitution. Clause 18 of the constitution is as under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eve the same object had been taken out at the instance of the revenue and we have dismissed the same. Accordingly, we have to proceed on the footing that the object for which the assessee is constituted is for a charitable purpose. The short question then arises is, are the properties which are held by the assessee held under trust or other legal obligation as contemplated by section 4(3)(i) ? I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cil and the members inter se. Their Lordships hold that there is such a trust or at least that there is a legal obligation, which is all that the section requires. " Every statement made in these observations is directly applicable to the facts of the present case. The provisions contained in the constitution of the assessee bind not only the standing committee and the managing committee but the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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