Section 105 , which is to the
following effect:-
“ Section 105 . Ultimate dissolution of Trust
and Transfer of its assets and liabilities to
the Municipal Board ... Clause (iii). Coming back to Section 105 ,
which provides for ultimate dissolution of Trust and
transfer of its assets and liabilities to the Municipal
Board
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
trust deed dated 3.8.2017. In the amended trust deed,
clause 6 of the amended trust deed read with clause 4 of the pre-
amended trust ... trust deed does not provide what will happen to trust
property on dissolution of the trust and as well as the trust deed
does
dissolution of Himmatlal Tribhovandas Family Trust.
Copy of the dissolution deed of trust vide Annexure-B is also placed on
record.
2. Mr.Viral Shah ... ORDER
3. Regard being had to the above submission and considering the
dissolution deed at Annexure-B, without prejudice to the rights and
contentions
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
trust
deed was not produced, no clause is provided in the deed to seek
approval from CIT(E) for amendment to trust deed, dissolution clause ... further contended that after introduction of
provision to deal with dissolution of trust in the Act there is no
requirement for providing a clause
Clause (iii). Coming back to Section 105 ,
which provides for ultimate dissolution of Trust and transfer of its assets and
liabilities to the Municipal Board ... manner improve the
case of the assessee. When the Trust is dissolved or at dissolution, properties and
funds and dues vested in or realisable
evidences for the first time (being declaration by
Smt. Naintara Bhati, dissolution of Trust Deed, Trust Deed etc.) now in appeal, it will
tantamount
form of cash/ movable property/immovable property to any
other persons, individuals, trusts, societies, AOP etc. involved in
similar objects ... kind of powers
can be given only on the occasion of dissolution of trust and not
before that. The AO has also noted that
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
