record perused. Facts in brief are that the
assessee is a private revocable trust, filed its return at NIL income. In the Profit & Loss ... Milestone Army Navy Trust .
5.8 In view of the above discussion, I hold that the appellant trust being a
revocable Trust, income is taxable
trust, each unit holder becomes beneficiary
of the trust entitled to distribution from the trust. As we have held that
assessee trust is revocable trust ... apply to the assessee trust. We find that assessee trust is a
private revocable trust and trust is contributed trust set up under the trust
family and, therefore,
the trusts in the present case were private trusts
and not public trusts, as alleged by the
complainant. Learned counsel urged that ... trustee of three trusts
out of five private trusts created in 1988 none of the
properties settled in the trusts had been
transferred/recorded
Clause
5.2.1 and 5.2.2 of the trust deed, the contribution made by the SR
holders is "revocable" as the power of re-assumption ... case of appellant trust, wherein Hon'ble
Mumbai ITAT had held that the assessee trust was 3 private
revocable trust and section
behalf of
the plaintiff:
(i) Defendant no.1 company is a private limited company, of which the
defendant no.5 is the Chairman ... 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
Trust and
Arcil Retail Loan Portfolio-001-D Trust
A.Y. 2016-17
company (SC/RC). Assessee is a trust formed under the guidelines
issued ... course of assessment proceedings, assessee claimed that it
is a private revocable determinate trust formed as per the guidelines
issued
Karnataka Land Reforms Act, 1961
KARNATAKA
India
Karnataka Land Reforms Act, 1961
Act 10 of
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 in proportion to their respective interests in such trust, or the income derived therefrom. Explanation. - Where a trust is partly private and partly public
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 in proportion to their respective interests in such trust, or the income derived there form. Explanation. - Where a trust is partly private and partly
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 ... trust in proportion to their respective interests in such trust or the income derived therefrom. Explanation.—Where a trust is partly private and partly public
