trust shall be applied
solely towards the promotion of the objectives of the
trust as set forth in this Trust Deed and no proportion
thereof ... office bearers of the
Trust shall draw any salary for their services rendered
to the Trust.
c) The Trust is required to apply its surplus
from Sponsor Trust i.e. Bhandari Charitable
Trust. The Auditors' Report annexed to the final accounts shows
that Bhandari Charitable Trust was already carrying ... Sponsoring Body and this is
against the spirit of Charitable Trust whereupon dissolution, no
assets are allowed to go back to the founder, trustees
that the
Trust has six members not three members as observed by the Ld. CIT(E). It was
argued that the Trust is existing from ... argued that it is a family Trust comprising solely of the family
members and the absence of dissolution clause is intentional in the absence
Trust.
25. Please submit evidences that the corpus amount has been transferred to the
Trust/Institution.
26. Please specify that the Trust is in receipt ... Further, it is seen that as per trust deed the dissolution clause is not proper/
not there.
The above-mentioned inquiry about the actual activities
clearly attracted without this dissolution clause. Lack of dissolution clause is also
in contravention to the necessary conditions laid down by the Society ... Tara Educational & Charitable Trust
in ITA No. 247 of 2015 and CIT-II Vs. Surya Educational & Charitable Trust
assets will be dissolution of the society, however, in the
given to charitable organization event of dissolution, the funds will be
with similar objective ... similar objective and no part of the same
trusts of The Delhi Public School will be distributed to any of the trustees.
Society, DPS Staff
allow
the benefit on the Principle of Mutuality without putting the applicant trust to
test the conditions of mutuality viz.
(i) Transactions solely with ... commercial connotation in its affairs,
(iv) Distribution of surplus to members on dissolution or winding up of
the body.
(v) The complete identity of contributors
trust has filed the reply on 31/05/2013 in which it is mentioned that
there is no trust Deed being very old trust ... creation of the trust or establishment of the
trust. There must be written instrument by way of which the trust or
institution is created/established
profits to its members. In the event of its winding up or
dissolution, surplus of assets over liabilities, if any, could not be distributed amongst ... carrying on of any activity for profit.
Where dominant objects of trust are charitable in nature, mere fact that SOrlie relatives
of settler can also
All India Rubber Industries ... vs Asst Cit (E)1(1), Mumbai on 12 October, 2018
