trust or an institution, being profits and gains of business, unless
(a) the business is carried on by a trust wholly for public religious purposes ... exemption. In 1957, the settlor
executed a supplementary deed making the trust irrevocable. On 28.07.1961
another supplementary deed was executed which directed that the trust
exclusive benefit of his
employees under an irrevocable trust. Then comes clause (va) which deals
about employees' contribution in the provident fund
Assessing Officer mentioned that the manner of
application by trust needs to be examined by Assessing Officer and not
Commissioner while granting registration ... Income-tax Act,
made the following observations:
i. Irrevocable trust as assets and liability of appellant would be
transferred to State Government and there
Ito 6(3)(1), Mumbai vs 25 Fps Media Pvt. Ltd. , Mumbai on 2 March
employees of the said company and it was also an
irrevocable trust. Although the payments were made by the Assessee
company directly to the Life
after
discharging of the liabilities of the trust shall be transferred to another
trust having similar objects and aims and registered with the Income ... trust was amended later, on 29.06.2002 to meet
the requirements of Income Tax Act under Section 12A and under Section
80G , making this trust irrevocable
also provided for constituting a Pension Fund
under an irrevocable trust for the purpose of payment of pensions
and accordingly Respondent No. 3 was constituted
emergent meeting of the Board of
Trustees of the Sharma Foundation Trust was held on 16-05-2015
at A/19-A Kailash Colony ... work
of the trust as desired by the SETTLOR in the Trust Deed dated 7th
May 1976 as it was an irrevocable trust
Union Bank of India (Employees)
Pension Fund' under an irrevocable trust. The
petitioners opted for pension under the
Regulations and authorised the bank
Union Bank of India (Employees)
Pension Fund' under an irrevocable trust. The
petitioners opted for pension under the
Regulations and authorised the bank
