seen that trust was under administrative control of Government of Punjab but
has never lost its existence as trust. In-fact, these trust have, been ... from the trust fund itself and even the trust was allowed
to incur expenditure on various contingencies; that thus, though the
trust was under
that there is no
dissolution clause in the memorandum of trust. The absence of
dissolution clause in the memorandum of the institution is only ... find any dissolution clause in the
memorandum of the trust and declining the registration also relied upon
the report of the ITO (Exemption), Amritsar. Crux
been provided that at the time of
dissolution, the assets of the trust shall be transferred to
another society. We have gone through the objects ... Trust Deed reads as
under:
"8. The Trust hereby created shall be irrevocable.
However, the Founder reserves the right to dissolve
the Trust
society cannot be distributed among the members of the
society. On the dissolution of the society its all movable and immovable
assets are required ... noted from the trust deed that at the time of dissolution of the
trust, the movable and immovable property of the assessee society would
Shri Panchyati Dharamshala
criteria, particularly when it is a case of a trust or society and it is with reference to a
fiscal statute ... Society
Registration Act, 1958 . Sec. 14A of this Act provides that upon dissolution of the society
all the assets shall go to the State Government
trust property or its income and if any
such property or income is applied for that purpose, then it will be contravention of the
trust ... trustee, cannot disentitle the assessee institution from getting
registration. Moreover, the trust deed has to be read as a whole according to well
granting authority is
required to satisfy himself about the objects of the trust being claimed to be
charitable and thereafter genuineness of the activities ... without verifying
about the further diversion of funds in the case of dissolution of the authority
by considering the relevant provisions
Memorandum, which is
reproduced below:
If upon the winding up or dissolution of the Institute
there remains, after the satisfaction of all its debts ... Institute at or before the time of dissolution, and in
default thereof by such Judge of the High Court of
Judicature at Bombay or other
2653 & 2654/Ahd/2012;
ix) Ahmedabad South Indian Association Charitable Trust, Tax
Appeal No.933 to 936 of 2010 (Guj)
15. The ld.counsel ... recoverable under the Act, as an arrears of land revenue, and on dissolution of
the corporation, the assets would vest along with liabilities
The Young Women'S Christian ... vs Department Of Income Tax on 29 February, 2016
