Trust not entitled to exemption if carrying only incidental objects which are not charitable

HIGH COURT OF BOMBAY M. Visvesvaraya Industrial Research & Development Centre Versus Commissioner of Income-tax IT REFERENCE NO. 78 OF 1998 October 25, 2012 JUDGMENT S.J. Vazifdar, J.   This reference under section 256 (1) of the Income Tax Act, 1961 arises out of Reference Application Nos.306 and 307 filed by the assessee in respect of a common order of the Income Tax Appellate Tribunal dated 29th March, 1996 in ITA Nos.6351/B/93 and 1717/B/94 pertaining to assessment years 1989-90 and 1990-91. (A)  The Tribunal on the assessee’s application drew up a statement of...