beneficiary or beneficiaries and the trust property, is
forwarded to the Assessing Officer,-
(i) where the trust has been declared before ... trust.
Explanation 2.- For the purposes of clause (v), "oral
trust" means a trust which is not declared by a duly
executed instrument
money was received by him impressed with the trust and that trust necessarily was oral in nature. Therefore, the Tribunal is not correct in saying ... trust were sham deeds. In this connection the observations of the Tribunal that "the case of the trust having been originally made orally, therefore
briefly are as follows :
In December, 1940, the assessee made an oral trust in respect of securities of the face value of Rs. 5 lakhs
manager;
(iv) in respect of income which a trustee appointed under a trust declared by a duly executed instrument in writing whether testamentary or otherwise ... respect of income which a trustee appointed under an oral trust receives or is entitled to receive on behalf, or for the benefit, any person
means of a written document but also orally but what is required in the case of oral trust is that the property must have been ... religious purposes for which tne trust was created. This is sufficiently proved in this case both by oral evidence as well as indirect documentary evidence
trust about which pleadings have been made in
para 12 of the written statement filed by me was not
written. It was only oral ... Indian Trusts Act there cannot be a
plea of oral trust. He further says that there is no plea
either of benami transaction
need to be in writing. As per
provisions of section 164A oral trust are taxed at maximum marginal rate.
Even according to section 194C
Anjali Pandit, Mumbai vs Asst Cit Cen Cir 12, Mumbai on 17 November, 2016
आयकर
transferred ornaments in question on 8th of April, 1977, when oral Trust in respect thereof was created and therefore, the transfer of ornaments which ... much as the ornaments were transferred to the Trust by the oral declaration dated 8th of April, 1977. It has been found that the donor
assessee was a
trust registered with the CIT under Section 12A in the year 1993 and, therefore, the income of
the trust ... held that
without mentioning the status in notice itself i.e. oral trust, the assessment completed in
pursuance of such an illegal notice issued under
