assessee, this was followed by the meeting of the two trustees, i.e., the assessee and his wife, held on 23-3-1977 under ... point out that according to the minutes there were only two trustees, i.e., the assessee and his wife and if the assessee handed over
Dorabji Tata Trust, Mumbai vs Cit (E)- 2, Mumbai on 28 December, 2020
ITA No
appellant during
appellate proceedings, as reproduced in the aforesaid paragraphs, two
meetings of trustees dated 03.01.2011 and 26.01.2011 are mentioned,
which actually pertain ... 4591/Mum/2016 and other two appeals
trustees with the prior written consent or Direction of Shri Anil
Agarwal, the Protector can only distribute
assessee on 20.7.2005 as well as in case of the
two trustees namely Shri Prataprai Kokhani and Shri Arun G.
Vartak and also in case ... through trustees of the trust or anybody
authorized by trustees. The acts of the trustees have to be
considered as acts on behalf
that the trustees have siphoned off
money for ultimate benefit of two trustees. The investigation further
reveals that the trustees have siphoned off money ... above two trade unions on the ground that trustees siphoned off money
through above two trade unions as the said loan has been ultimately
transferred
property is split into two, (i) the legal ownership which is acquired by a trust with the trustees, (ii) the beneficial ownership acquired ... Miss Anjali Goel (appellant) and on creation of this trust two trustees have been appointed namely, Shri A.S. Jain and Smt. Snehlata M. Goel
indenture dated 03.02.1999, where the
beneficiaries of the trust are the two trustees, their respective
5
I.T.A. No. 308 /Mum/20 14
Mamania
Assessing Officer observed
that assessee trust gave advance/deposit to two trustees,
namely Shri. Sukesh S. Shetty and Rakesh S. Shetty
amounting ... respectively.
According to the Assessing officer, those two persons being in
the category of specified persons as provided in section
Mumbra Shikshan Prasarak Mandal
with Shri Milind Gorakh Patil, trustee on 25.10.2018, wherein
he also admitted that they used to take out money from ... found factually incorrect. Besides Shri Sunil G. Patil,
statements of other two trustees namely Shri Anil Patil and Shri
Milind Patil were also recorded during
that the trustees have siphoned off
money for ultimate benefit of two trustees. The investigation further
reveals that the trustees have siphoned off money ... above two trade unions on the ground that trustees siphoned off money
through above two trade unions as the said loan has been ultimately
transferred
