business. The beneficiaries who are
named in the trust as recipients of the income of the trust cannot be
considered as an association of persons ... hands of the petitioner as
the transferor of a revocable trust, in which event the income would be
exempt under Section 10(23D) . Whether
interest of the Trust and its
property. They have created source of income of the Trust. Land of the
Trust is yielding two crops ... Trust. They have no interest in
furtherance of the aims and objectives of the Trust or in proper
administration of the Trust and its properties
reproduced hereunder
"Rel igious Trust-Exemption-Trust revocable at discretion of
central council-Religious sect bif urcating into two-One group
held ... ound as a f act earlier- Income-tax Act, 1961 , s.11..
Trust - No f ormal document necessary to create Trust
Lands owned or held under a private trust shall- (a) in a case where the trust is revocable by the author of the trust
Lands owned or held under a private trust shall- (a) in a case where the trust is revocable by the author of the trust
trust is not irrevocable. Under clause
10 of the said trust deed, it is mentioned as under:
"The trust deed is revocable ... above trust cannot
be treated as a wholly public charitable trust. The DIT(E) was of the
opinion that the assessee trust has not carried
Cents for ` 11 lakhs and leased out such
land to assessee-Trust for a period of thirty years at a lease rental ... Crore. According to him, finding of ld. CIT
that the Trust was revocable was wrong since in the Trust deed it was
clearly stipulated that
following information to verify
the genuineness of the activities of the trust ... trust.
(ii) If the trust is for educational purpose, please submit the approval
certificate of the competent authority.
(iii) Whether the trust is revocable/irrevocable
company, or
(d) Under a transfer to a revocable or an
irrevocable trust, or
(e) Under any such transfer as is referred to in
clause
company,
or
(d) under the transfer to a revocable or an irrevocable trust, or
(e) under any such transfer as is referred to in
clauses
