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
Satkrit Service Trust. The said trust was registered with the Sub
Registrar, Chandigarh on 21.4.2006. The trust was constituted of two
trustees ... assessee and secondly, the
original trust which was an irrevocable trust, was amended by way of
supplementary Trust Deed. It was fairly admitted
change the Memorandum with a dissolution clause
at the earliest "that in case of the dissolution of the trust/society it
shall be taken ... Dashmesh Academy Trust, Ropar
27
any share or benefit from the trust /society. However, the trust will
incorporate the dissolution clause.
When the aforesaid
assessee trust. First reason given by her reads as
follows :
"a) The Trust Deed has not provided for a
dissolution clause ... Assets and liabilities accrued by trust, all its branches
and institutions will be property of the trust .If the trust
fail due to some
Managing Committee of the Trust in the
event of dissolution of the Trust, was a farfetched
imagination of the ld. Chief ... denying
approval is that the dissolution clause mentioned in the
Memorandum of Association stated that in the event of
dissolution, all the movable and immovable
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
trust. He has also
referred to para 11 of the Trust Deed to show that no
part of the trust property can be applied ... restricted to be same and in the event of
dissolution of the Trust, the funds with the Trust will be
donated to the other Trust
also observed that there was no
dissolution clause in the trust deed. The Ld. Counsel for the assessee has
further submitted that earlier the assessee ... date. Further,
the applicant-trust also wants to furnish about the evidences of amendment
of trust deed regarding the dissolution clause and further to address
functional trust (by its own admission the trust could
not be managed) headed by the husband to a trust headed by
the .wife. The wife ... managing trustee (Author of the
trust) in the new trust could well have been incorporated in
the donor trust in order to shore
assessee trust to
carry on its object of imparting education. The
assessee had executed a trust deed and later
executed a supplementary trust deed ... assessee had clarified its intention with
regard to the dissolution of the trust. The
supplementary deed was executed for further
clarification and the same
