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
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
Private Trust
2. The brief facts are that assessee is a Revocable Private Trust
settled by Mr. Burjor Hormosji Reporter and Mrs. Aloo Burjor
Reporter ... mutual funds of
Rs.2,59,21,343/- of the revocable family private trust. The copies
of the returns have been filed before
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
trust are not of a nature of public charity. Consequently, the Assessing Officer held that the trust is a private discretionary trust and accordingly disallowed ... trust deed provides that the trust is revocable at the discretion of the trustees and the proceeds of the trust can be utilised as decided
correct
in holding that the assessee is a private specific trust with revocable transfer and not an AOP
as held by AO.
2. Whether ... Trust Deed and sample contribution
agreement made between assessee trust and investors.
2.5 It was further noted that the assessee trust was stated
said that transfer of funds by the beneficiary
to the trust/fund is a revocable transfer ... offer document for private placement issued by the Investment
Manager. Article-13 of the Trust Deed provides for termination
of the Trust. Though such
Western Electricity Supply Company Of ... vs Odisha Electricity Regulatory ... on 21 August, 2017
A-64
Pratik Agarwal Beneficiary Trust , ... vs Acit, C.C.-3(1), , Kolkata on 14 July, 2023
