Whether the trust
deed contains clause that the trust is irrevocable?",
the trusts are forced to click on "Yes". Because ... until the clause of dissolution of the Trust is
incorporated in the Trust Deed, the Trust cannot be
registered.
5 The statute takes care
trust, by virtue of
the partition decree in the earlier suit, the trust came to be dissolved
since some of the properties of the trust ... same were mutually partitioned
between the parties which results in dissolution of the trust. Reliance is
placed on Section 77(c) of the Indian Trusts
place or the mode of dissolution of the
trust is provided in the trust deed, the trust should be allowed to continue and
operate particularly ... trust as provided under the Indian Trust
Act, 1882 is also not applicable. The trust deed does not provide for any
dissolution. However
rejection, i.e., absence of an explicit irrevocability or
dissolution clause in the trust deed, cannot be treated as a
specified violation within the meaning ... trust deed contains clause
regarding irrevocability. However, on verification of the trust
deed/MoA, no such clause relating to irrevocability or
dissolution/winding
Trust Deed. Ld. CIT(E) thus, observed that Trust Deed of the
assessee does not contain clause regarding irrevocability and
dissolution which does not give ... trust to be a revocable trust, power to revoke
the same is essential which must be explicitly expressed in the Trust
Deed
vested in the family trust created under the will. Upon
dissolution of the trust, the property devolved upon the beneficiaries
(including the assessee) and therefore ... created a family trust and vested the
property in the said trust in the year 1984. Upon dissolution of the trust,
the property was transferred
trust deed contains clause that the trust is irrevocable?" The applicant
has stated "Yes". However, as per the trust deed/MOA, there ... Exemptions), namely, absence of clauses relating to irrevocability
and dissolution in the trust deed, we find that the issue is no longer
res integra
decision of the Ld. PCIT
as regards to the no dissolution clause of trust and that in absence of same, it
is not clear what ... Trust Deed,
no part of the assets of the trust shall be utilized for the purpose other than
the activities of the trust which itself
decision of the Ld. PCIT
as regards to the no dissolution clause of trust and that in absence of same, it
is not clear what ... Trust Deed,
no part of the assets of the trust shall be utilized for the purpose other than
the activities of the trust which itself
have any power under the
Trust Deed or under the Maharashtra Public Trusts Act, 1950 to
revoke the trust, dissolve it at will, or distribute ... Whether
the trust deed contains clause that the trust is
irrevocable?". Since, the trust deeds were silent on this
aspect, Respondent
