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21. The temporary Co-Managing Trustee will exercise their duties as co-trustee subject to the control and supervision of the permanent Trustees and in case any mal-feasance or mis-feasance or negligence in discharging their duties in the management of the educational institution the said temporary managing co - trustees may be dismissed by tile Permanent Trustees prior to the expiry of the stipulated period of two years.

22. That either of the Two Permanent Trustees shall represent the institution for all purposes including to sue or to be sued.

23. That the Permanent Trustees shall have the power to nominate their successors to be Permanent Trustees, failing which two of their heirs shall become Permanent Trustees. The said procedure of filling of s uccession shall be adopted in future also."

:- 23 -: ITA No. 368/CTK/2019 and others Roland Educational & Charitable Trust, Berahampur From the above, it is clear that the Trust is in the nature of a family concern of Dr. J.Surya Rao and his Wife Smt. J. Jayalakshmi. The Permanent Trustees have extra - ordinary powers in the matter of management of the Trust and its property and have absolute powers to take decision on financial matters which vitiate the very term charity.

7.8 Lastly comes the Revenue's concluding argument that the CCIT has rightly held that assessee's trustees had unbridled powers and they had also received payments from the former. We make it clear that there is no such condition in section 10(23C)(vi) of the Act qua the internal day to day running of an institution set up solely for carrying out educational activities. Hon'ble apex court's decision Commissioner of Customs (Imports) Vs. M/s Dilip Kumar and Company, [2018] 9 SCC 1 (FB)(SC) has settled the law that only stricter interpretation needs to be applied both in taxing as well as a deduction provision. Coupled with this, Mr. Tulsiyan pointed out that it was only in the AY 2001-02 that both of its trustees (supra) had sold lands to the assessee a collector rate(s) only i.e. as per the fair valuation adopted by the SRO Ganjam District in Odisha. No benefit or advantage accrued therefore in favour of the said two trustees which could disentitle the impugned claim of section 10(23C)(vi) approval. The very factual position continues regarding interest paid to the said trustees as well in AY 2007-08, 2009-10, 2011-12 and 2012-13 @ 11%, 8%, 11% and 9.5% only as against that paid to State Bank of India for the period from 27/02/2007 to 22/07/2013 (page 875 of the paper book).

Clause 23: That the Permanent Trustees shall have the power to nominate their successors to be P ermanent Trustees, failing which two of their heirs shall become :- 38 -: ITA No. 368/CTK/2019 and others Roland Educational & Charitable Trust, Berahampur Permanent Trustees. The said procedure of line or succession shall be adopted in future also.

Clause 24: The Permanent Trustees may appoint other staff members required for the institution and remove them whenever it is considered necessary in the interest of the institution.