story that the income from the premises is the income of the trust created by his wife. The proof of that charge depends ... assessee. He says that he paid it on behalf of the trust orally created by his wife. Therefore, the question is whether he has satisfactorily
story that the income from the premises is the income of the trust created by his wife. The proof of that charge depends ... assessee. He says that he paid it on behalf of the trust orally created by his wife. Therefore, the question is whether he has satisfactorily
produced by the assessee
can it be held that the alleged oral trust be valid and even otherwise can the assessee
contend that ... relied upon by the assessee, none of which
pertains to an oral trust be applicable in the assessee's case for discharging his liability
received by the trust is received under fiduciary capacity
and hence not taxable. B) Counsel for the assessee also argued that
trust via trustee does ... Discretionary trusts. For
instance, section 165 specify the tax rates applicable to a trust
section 164A provides charge of tax in case of oral trust
respect of income which a trustee appointed under an oral trust receives or is entitled
4
to receive on behalf or for the benefit ... trust.
Explanation 2. --For the purposes of clause (v), "oral trust" means a trust which is not declared
by a duly executed instrument
manager; (iv) in respect of income which a trustee30
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
manager;
4. 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
manager;
(iv) in respect of income which a trustee30 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
Dynavision Ltd. (2003) 128 Taxman 406 (Mad) held that an oral trust is permissible in case of creation of a trust. A formal deed
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
