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Documents citing Devlakshmi Harisukh Vahalia And Ors. vs Vishwakanth P. Bhatt on 9 July, 1970

Commissioner Of ... vs Smt. Indumathi R. Kirloskar. on 18 November, 1988

The Act does not contain any provision relating to the acceleration of subsequent interests on the failure or premature determination of a prior interest. In cases covered by the Act, the provisions of the Act govern the matter but in cases not covered by the Act, the court is entitled to apply rules of equity and good conscience, and in order to ascertain the principles of equity and good conscience, the court may rely upon the English law. Acceleration of subsequent interest under the trust is a doctrine applicable in Indian both to trusts created by wills and to settlements inter vivos, provided two conditions are fulfilled, namely, that the settlor has not shown a contrary intention in the document creating the trust and that the subsequent interest is a vested interest and not a contingent interest. If the document expresses or indicates a contrary intention, the subsequent interests are not accelerated, but there is a resulting trust of the income in favour of the settlor or the assessee. This very aspect was considered by the Bombay High Court in Devlakshmi Harisukh Vahalia v. Vishwakant P. Bhatt. AIR 1972 Bom 103.
Karnataka High Court Cites 17 - Cited by 0 - Full Document

Commissioner Of ... vs Indumathi R. Kirloskar on 18 November, 1988

14. The Act does not contain any provision relating to the acceleration of subsequent interests on the failure or premature determination of a prior interest. In cases covered by the Act, the provisions of the Act govern the matter but in cases not covered by the Act, the court is entitled to apply rules of equity and good conscience, and in order to ascertain the principles of equity and good conscience, the court may rely upon the English law. Acceleration of subsequent interest under the trust is a doctrine applicable in Indian both to trusts created by wills and to settlements inter vivos, provided two conditions are fulfilled, namely, that the settlor has not shown a contrary intention in the document creating the trust and that the subsequent interest is a vested interest and not a contingent interest. If the document expresses or indicates a contrary intention, the subsequent interests are not accelerated, but there is a resulting trust of the income in favour of the settlor or the assessee. This very aspect was considered by the Bombay High Court in Devlakshmi Harisukh Vahalia v. Vishwakant P. Bhatt. .
Karnataka High Court Cites 16 - Cited by 1 - Full Document
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