trust transferred a sum of 10,000/- in
favour of two trustees who were (a) Shri Murasoli Maran (b) Smt.
Mallika Maran, to hold offices ... Trustee of the Trust. Ld.A.R
submitted that beneficiary could be the Trustee and he could have
dual capacity, one as a Trustee
Trustees, Shri Murasoli Maran was admitted in the
hospital and other two Trustees participated in the Trust meeting
which was held on 05.06.2003. The two ... indisposed and admitted in the hospital for
treatment. The remaining two Trustees attended the meeting held
5 I.T.A. Nos.2663 & 2664
disturb a consistent
position taken by the Revenue for more than two decades.
7. We have perused the orders and heard the rival contentions
carefully ... whether the partnership was one
formed between the HUF and two trustees or between three
individuals. One more question also arises whether a valid partnership
whether the partnership was one
formed between the HUF and two trustees or between three individuals.
One more question also arises whether a valid partnership
trustees/EC members
paid directly to the service providers and occasionally reimbursed to
trustees/EC members in case the booking is made by the trustees ... that the main
contention of the AO is that the trustees of these two trusts are common and
the foreign expenses made by the assessee
Trust account was concerned, it was held by the
concerned trustee only for two days and there was no benefit
whatsoever derived ... period for
which the amount was held by the trustee came to two days only and it
will not be reasonable to take a view
falling within the previous year. The assessee
consisted of two trustees, father and son. The Assessing Officer
found that as per the balance sheet ... given to other two trusts. He found that even this disposition was
supported by the resolution of the trustees, the earlier resolution
shown to us that, for AY 2015-16, these two individual trustees
had disclosed taxable profit of Rs.1.44 crores ... crores. It was during AY 2016-17 that, these
two individual trustees with their clear charitable intent had settled both
these schools along with
profits of such
concern.
Apart from saying that two of the trustees were also directors of the
M/s. Amali Builders Private Limited, ld. Assessing ... requirement of Explanation
3 to Section 13(1) (9) . Just because two trustees were directors would
not mean that they were entitled
Bagyalakshmi & Co.
(supra), found that individual coparcener or an individual trustee can
be a partner in the representative capacity in a partnership firm ... whether the
partnership was one formed between the HUF and two trustees
or between three individuals. One more question also arises
whether a valid partnership
