gratuity fund for the exclusive benefit of his employees under an irrevocable trust, the application for the approval of the fund having been made before ... March 31, 1975, the approved gratuity fund, under an irrevocable trust, need be created and the application for the approval of the fund need
transfer of capital asset under a gift or will or an irrevocable trust ". The term " gift " is not defined in the Income ... capital asset under a gift or will or an irrevocable trust."
25. But the transaction hen; in question does not fall under
capital asset under a gift or a will or an irrevocable trust." The word "gift" is not defined in this
avoid tax evasion in the guise of donation to trusts and the flow back of the same amount to the employer again in the form ... deduction. Instances have come to notice where certain employers have created irrevocable trusts, ostensibly for the welfare of employees, and transferred to such trusts substantial
exclusive benefit of his employees under an irrevocable trust."
"37. (1) Any expenditure (not being expenditure of the nature described in Sections
persons ; a transfer under a gift or will or an irrevocable trust ; a transfer of capital asset by a company to its subsidiary company ; transfer
exclusive benefits of the employees under an irrevocable trust is an allowable deduction. Similarly provision made in the profit and loss account for the estimated
avoid tax evasion in the guise of donation to trusts and the flow back of the same amount to the employer again in the form ... deduction. Instances have come to notice where certain employers have created irrevocable trusts, ostensibly for the welfare of employees, and transferred to such trusts substantial
name of "Travancore Titanium Products Gratuity Fund" under an irrevocable trust for the benefit of its employees. A copy of the rules
capital asset under a gift or will or an irrevocable trust". This provision need not detain us further because no contention had been raised
