settlement, trust, covenant, agreement or
arrangement.
4. It is submitted that the transfer of funds to the assessee trust was a revocable
transfer of asset ... schemes
of the trust.
• There was also a clause for premature termination of the Trust
• The Term of the Trust Fund was 8 years from
British Virgin Islands, constituted in September 2005
(Trust Vehicle), formed part of the trust structure;
C. the Trust was governed under the laws ... British Virgin Islands, constituted in
September 2005 (Trust Vehicle), formed part of the trust
structure; the Trust was governed under the laws
ARCIL SBPS 024 I Trust
Trust Act which states that a trust may be created by every person
competent to contract. From the above ... trust is a determinate
trust i.e., non-discretionary trust.
7. In view of the aforesaid facts and findings, the appellant is
held as revocable
argued
that the assessee's Trust is a revocable trust and it is to be assessed
as an AOP at maximum marginal rate ... call upon the Trust to cancel any
units held by them and return the value. Therefore, the trust is revocable
trust and squarely covered
Defendant no.3 is a private and revocable trust settled by the plaintiff
and the defendant no.5 under the provisions of the Indian Trusts ... effective date of revocation, which shall be specified in such notice
("Revocation Date")
21.2 Upon revocation of the Trust in accordance with Clause
petitioner:
1. Trust Deed
2. Deed of Declaration
3. Revocation of Trust
4. Deed of Agreement
5. Deed of Amalgamation
6. Rent Agreement (Agreement ... deeds are admittedly facing the processual difficulty:
1. Trust Deed
2. Revocation of Trust
3. Deed of Agreement
4. Deed of Amalgamation
5. Deed
Income Tax Officer Ward 23(1)(2), ... vs Ge Capital Services India, Mumbai on 25
inter se agreement
between them but only with the Trust. These contributions are revocable
within the meaning of section 61 read with section ... Trust, dismissed the appeal with the
findings that the assessee was a valid trust. Since it was revocable Trust, the
provisions
assets and liabilities of the trust will be distributed amongst the trustees of the
trust in case the trust closes its operations or is disbanded ... this dissolution
clause.
The absence of these important clauses, make a trust revocable, not
enuring to the benefit of general public and open
Dipesh Mehta And 3 Ors vs Gerald Shirley And 3 Ors on 3 October, 2022
