Chennai Court December 2003 Judgments

Sri Aurobindo Ashram Harpegon Workshop Trust Vs. Asstt. Cwt

Court: Chennai

Reported in: [2004]140TAXMAN579(Mad)

ORDERR. Jayasimha Babu, J. The question raised in these appeals by the assessee is as to whether the Tribunal is right in holding that the assessee is not entitled to exemption under section 5(1) of the Wealth Tax Act.2. The assessee is a trust whose objects are set out in clause 4-A of the Trust Deed dated 18-12-1967, which reads thus:'4-A. The objects of the Trust shall be:(i) To aid and assist in the development and maintenance of Sri Aurobindo International Centre of Education and Sri Aurobindo Ashram or any other Public Trust for charitable purpose and to establish and/or take over and/or purchase and/or otherwise acquire and run and manage services and industries required for the purpose of Sri Aurobindo International Centre of Education and/or Sri Aurobindo Ashram and/or departments connected therewith or any other Public Trust for charitable purpose.(ii) To organise, encourage, promote, spread and impart all kind of educations and/or aid and/or assist in imparting and/ or contr...