Per Shri D.V. Junnarkar, Accountant Member -The assessee is a society formed by a memorandum of association dated 11-4-1957 with the following objects:

(a)to conduct, promote and patronise through instruction all such nation-building activities for the Hindu Society which the late Dr. Hedgewar instituted and envisaged;

(b)to conduct activities of literary, scientific, cultural and charitable nature conducive to the above objects;

(c)to establish libraries, medical and other relief centres, schools and colleges;

(d)to diffuse political knowledge consistent with the national heritage and thus conducive to the welfare of humanity as a whole.

(e)to spread education and physical training;

(f)and for these purposes:

(i)acquire on lease, by purchase, sale or gift, lands and buildings from Governmental or semi-Governmental authorities, trusts and corporations, institutions and societies, as well as from individuals in Nagpur or any other place in Bharat and/or abroad and to sell, manage, transfer, exchange, mortgage, demise, dispose of or otherwise deal with any property whatsoever belonging to the Society;

(ii)to put up suitable memorials, buildings and other constructions, to maintain, alte