trust deed for the settlor to reassume the trust property or any income therefrom that could make the trust revocable and not merely the fact ... income of the trust in the hands of the settlor in case the trust is a revocable one. Section 62 provides exceptions in certain cases
revocable trust. If the trust created or purported to be created by the document dated 18th May, 1972, was a revocable trust the steps taken ... revocable trust cannot be, at the same breath, called a void trust because a void trust is a trust which is non-existent
trusts were in fact private trusts and not at all public trusts or charitable trusts. The language used in the trust deeds and construction ... trusts and the five trust deeds were private trusts and not trust for religious or charitable purpose. In the trustees of Gordhandas Govindram Family Trust
valid trust. He went further to say that even if there was a valid trust, such trust was to be regarded as a revocable ... valid trust came into existence under the deed of trust dated the 11th October, 1939, as mentioned in the said deed of trust
from the income of the trust property for his exclusive use. He, therefore, held that the trust was revocable within the meaning of Section ... time of the original transfer could not make the trust revocable within the meaning of Section 63 of the I.T. Act, 1961. In this
filed appeals. The AAC held that the debuttar trust was a revocable trust and its income was assessable in the hands of the assessee ... trust deeds both dated October 6, 1959, could it be held that the trusts so created were 'revocable trusts' ?
2. Whether
create thereby a trust, (b) the purpose of the trust, (c) the beneficiary, and (d) the trust-property, and (unless the trust is declared ... workable. The meaning of the expression "revocation" "or " revocable " is well settled. Revocation means calling back of a thing granted
said revocation could be done by deed only
and in the absence of such revocation by deed, the trust remained valid and
there cannot ... sections 77 and 78 of the Indian Trusts Act for extinguishment of the
trust by revocation of trust. The fact scenario, however, changed when
Karuna
trust deed he had the right to retain the trust securities in his name, to operate the banking account of the trust fund without even ... whole object of the third proviso is to consider a revocable trust irrevocable provided that the settlor enjoys no benefit whatever in the income
part of the trusts and powers hereinbefore declared & may declare such other trust or the Trust Fund and of the subsequent income therefrom ... shares constituting the so-called Trust Fund would be held by a Trust which would not be a revocable trust for the purposes
