years in the assessments of erstwhile trusts K. Kachradas Patel Specific Trust and Nirma Specific Family Trust. These trusts were dissolved ... Corpus/Trust Fund Wholly and handover the corpus, Trust Fund/Trust Properties of the Trust held so far by the Trustees of the Trust till
case the trust registered with the Sub-registrar as a
charitable trust and the trust being an irrevocable trust, the obvious
position shall be that ... Sukh Lal Rathi Charitable Trust Vs. CIT(E)
the trust is a irrevocable trust or not, and whether the assessee trust is
registered with
property and assets of the said trust. Therefore, the
said trust was dissolved as per the deed of dissolution dated 27th February ... income filed by the said trust, it has paid maximum
marginal rate of tax being a discretionary trust. The dissolution proceeds
received by the assessee
trust has
no dissolution clause. The dissolution clause ensures that in the
event of dissolution of the trust, the balance funds are not mis-
utilized ... that in case
the trust registered with the Sub-registrar as a charitable trust and the
trust being an irrevocable trust, the obvious position shall
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
trust the assets remaining after the satisfying
all debts and liabilities of the trust as on the date of dissolution
shall under no circumstances ... decide the manner in which
trust properties be transferred to another charitable trust
in the case of dissolution of trust will create doubt
without going through
the trust deed, recorded erroneous finding that, the trust deed has no
'dissolution' clause though the trust deed meets such ... dissolution clause in the trust deed, the net asset of the trust in
case of dissolution can be transferred to any other entity
would met if the assessee trust files its amended trust deed including dissolution
clause.
2
ITA No.297/Del/2021
7. On careful consideration ... deed before ld. CIT(E) clarifying
the position in a situation dissolution of trust, complying with the requirements of
registration granting authority preferably within
Trust --Sant Trust was settled by Mrs.
Vinodini C Pratap, mother of the assessee, by Indenture of Trust dated
20th January, 1978. This Trust ... property and assets of
Sant Trust.
1.4 The said trust was dissolved as per the Deed of Dissolution dated
27/2/2007 and the assets
charitable objectives of the trust as laid down in the trust deed. The genuineness of the trust is questionable in view of the above facts ... basic objects of the trust.
5. Further, as regards the fact that as per the trust deed, on dissolution, it has been left
