The Income tax Officer held that the respondent was number entitled to the benefit Under Section 4 3 i of the Act of 1922 in respect of the first assessment year and under Section 11 for the assessment years 1961 62 and 1962 63.
The Appellate Assist ant Commissioner maintained the order of the Income tax Officer.
The Income tax Officer proceeded on the view that the objects for which the respondent association was companystituted companytained certain clauses which permitted the respondent to apply the income to purposes which were number wholly charitable.
But the Income tax Appellate Tribunal took an entirely companytrary view and held that the respondent was entitled to the exemption claimed by it.
Upon a reference made at the instance of the Commissioner of Income tax, Gujarat the Appellate Tribunal referred the following question for the opinion of the High Court Whether on the facts and in the circumstances of the case the income of the assessee trust is exempt under Section 4 3 i of the Income tax Act, 1922 and Section 11 of the Income tax Act, 1961?.
Before the High Court the companytroversy centerd around Sub clause 4 and 5 of Clause 3 of the Memorandum of Association of the respondent association as well as Sub Clause 4 of Clause 8.The assessment years involved are 1960 61,1961 62 and 1962 63 the companyresponding accounting periods being the financial years ending 31 3 1960, 31 3 1961 and 31 3 1962 respectively .
S. Pathak, J. These appeals by certificate granted by the High Court of Gujarat are directed against the judgment of the High Court delivered on 29/30 6 1972 on the application of Section 4 3 i of the Income tax Act, 1922 and Section 11 of the Income tax Act, 1961.
