case of a discretionary trust or a
charitable trust;
(b) is a beneficiary in case of a specific trust;
(c) is the author or settlor ... case of a revocable
trust.
(v) Where the member of the reporting company is,-
(a) a pooled investment vehicle; or
(b) an entity controlled
case of a discretionary trust or a
charitable trust;
(b) is a beneficiary in case of a specific trust;
(c) is the author or settlor ... case of a revocable
trust.
(v) Where the member of the reporting company is,-
(a) a pooled investment vehicle; or
(b) an entity controlled
assessee is a registered charitable trust under the Rajasthan
Public Trust Act, 1959 (refer clause (iv) PB 4). The trust is established ... facts and
evidences being on record.
II. LD. CIT INCORRECTLY HELD TRUST REVOCABLE
12
ITA No. 1184 & 1185/JP/2024
Akhil Bharatvarshiya Papeek Ashram
assessee is a registered charitable trust under the Rajasthan
Public Trust Act, 1959 (refer clause (iv) PB 4). The trust is established ... facts and
evidences being on record.
II. LD. CIT INCORRECTLY HELD TRUST REVOCABLE
12
ITA No. 1184 & 1185/JP/2024
Akhil Bharatvarshiya Papeek Ashram
twice.
5. Ground No. 5-The income earned by GMT (being revocable trust) is exempt
from tax in India as per section 61 read with ... Dhabi Investment Authority ("ADIA") as a revocable and determinant
trust vide Deed of Settlement dated 22/07/2013 with Equity Trust (Jersey
inquiry and following such
procedure as may be prescribed, de-register the trust on the
following grounds :--
(a) when its purpose is completely fulfilled ... purpose becomes impossible
by destruction of the trust- property or otherwise ; or
(d) when the trust, being revocable, is expressly revoked ;
or
(e) when
respect of lands owned or held under a private
trust,--
(a) where the trust is revocable by the author of the trust,
such lands shall
reads thus;
"7.Under S.77 of the Indian Trusts Act, 1882, a
trust gets extinguished only under certain
circumstances. S.77 reads ... purpose becomes
impossible by destruction of the trust - property
or otherwise; or
(d) when the trust, being revocable, is expressly
revoked."
8. Therefore, unless
reads thus;
"7.Under S.77 of the Indian Trusts Act, 1882, a
trust gets extinguished only under certain
circumstances. S.77 reads ... purpose becomes
impossible by destruction of the trust - property
or otherwise; or
(d) when the trust, being revocable, is expressly
revoked."
8. Therefore, unless
reads thus;
"7.Under S.77 of the Indian Trusts Act, 1882, a
trust gets extinguished only under certain
circumstances. S.77 reads ... purpose becomes
impossible by destruction of the trust - property
or otherwise; or
(d) when the trust, being revocable, is expressly
revoked."
8. Therefore, unless
