Indian Trusts Act, 1882, which,
inter alia, provides that, a trust is extinguished when
the trust, being revocable, is expressly revoked. There
was no express ... called living trust which is essentially the
same as other trusts. The settler who creates the trust
by the Deed of Trust incorporates
Indian Trusts Act, 1882, which, inter alia, provides that a trust is extinguished when the trust, being revocable, is expressly revoked. There was no express ... called living trust which is essentially the same as other trusts. The settlor who creates the trust by the deed of trust incorporates
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
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
reassume power over the trust funds and income thereof which he had over these funds before the trust deed was made, bringing into operation proviso ... that the object of the third proviso was to consider a revocable trust irrevocable provided the settlor enjoyed no benefit whatever in the trust
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 ... bequest under gift, will or under transfer to a revocable or an irrevocable trust or as a result of transfer by a subsidiary company
uses, trusts, powers, provisions and limitation set out in the earlier clauses of the trust deed. After the power of revocation is exercised ... uses, trusts, powers, provisions and limitations declared in each of the three trust deeds and contained therein concerning the trust fund as provided and appointed
Trust Act.
Learned advocate
appearing for respondent No. 1 thereafter contended that looking to
the provisions of the Trust Deed and more particularly the
provisions ... exigency mentioned and that
not amounted to removal or revocation of its Trust-ship, it would
amount to vacating of office on account of exigency
Board Of Trustees Of Port Of Kandla ... vs Western Trading Co on 23 February, 2023
settlor, the entire income arising from the three
U.S.trust deeds was bound to be and was rightly included in the
income ... Tribunal has rightly come to the conclusion that the revocable
nature of the trust would cease to have any effect once the
settlor
