record) clearly shows that the firm constituted of the abovementioned two trustees was floated with the aim of introducing huge capital through its partners ... dissolution deed of the firm. The erstwhile firm, having two partners, which are the trustees of the present assessee trust, was dissolved vide a dissolution
similar name as that of the applicant society
and operations of the two entities are seemingly intertwined.
12. In reply, it was submitted ... lieu of services were
made to a company in which two trustees of the trust were also directors
and the exemption under section
partner in the firm in his personal capacity and as a trustee for his wife and minor son. It was a case of diversion ... constructive trustee under sections 81 , 90 and 94 of the Indian Trusts Act in favour of the two minors, for whose benefit he held
assessee as a
POA holder of his two sons, i.e., as a trustee, so that he is accountable for the said ... amount/s is realized by him as a trustee, for and on
behalf of his two sons, of which he could though be regarded
amount of
Rs.24.00 lacs were advanced to two persons who were trustees and settlers at
Rs.12 lacs each. It is also undisputed
equipments. It is also observed that
out of the four trustee of the trust two of them are doctors and Dr. Baldev Singh
Aulakh
except in two cases i.e. Sh. Anoop Sukhija and
Rajini, who had denied of even being employees of the assessee Institute.
Two letters were ... finalized the assessment on 30.12.2009.
The replies received from the two employees were never confronted to the
assessee. It was argued that none
same. This is as the trustees other
than the lifetime trustees, which together constitute the Board of Trustees (or
'Board' for short ... lifetime trustees themselves, and which are to be from the
family of the settler, who is also the lifetime trustee and Chairman of the
Board
been duly appointed trustee thereof by a High Court, under Act No. XVII of 1864 to constitute an Office of Official Trustee, Section ... trustees appointed to be passed on to her. From these provisions of law, it is clear that the amount received by either of the two
except in two cases i.e. Sh. Anoop Sukhija and
Rajini, who had denied of even being employees of the assessee Institute.
Two letters were ... finalized the assessment on 30.12.2009.
The replies received from the two employees were never confronted to the
assessee. It was argued that none
