beneficiary and from 1st July, 1989 the beneficiaries as stated in Vishvakarma Trust were to become beneficiaries under this Trust in the same proportion, extent ... because of the desire of the Settlor. The Trust is not a contract between Settlor and the beneficiary. A Trust is a contract between Settlor
entire body of beneficiaries. The document is executed only by the beneficiaries who are the trustees as well. The remaining beneficiaries who are members ... settlor, for whom the settlor had expressed so much of concern in the will. Subsequently on 8-9-1980 the beneficiaries of the trust
account holders, name(s) of the
beneficial owner(s)/settlor(s)/beneficiaries, and if the account was held
through an entity, whether
beneficiaries as contemplated by the third proviso to Section 16(1)(c) , the income could nto be taxed in the hands of the settlor because ... settlement was nto revocable during the lifetime of the beneficiaries and (b) the settlor derived no direct or indirect benefit from the settlement. Mr. Karkhanis
property is both preposterous and
untenable. Although it is true that the beneficiaries of the Wakf
cannot claim any title in the Wakf property ... necessarily
to be used for the benefit of the beneficiaries. For achieving this
objective, the settlor of the Wakf-alal-aulad was conscious enough
terms of the contract. The income accrued to the settlor before the beneficiaries got it and would undoubtedly be assessable in his hands despite
modified by the consent of all the beneficiaries competent to contract. And where a beneficiary is incompetent to contract, his consent is given ... beneficiaries. True it is that the three trustees in this case are also the beneficiaries under the trust. Because they are descendants of the settlor
trust was found to be Yagya Bhu and the beneficiaries included children of the settlor and the wife, grandchildren of Mr. M. K. Mohta ... Haryana Steel Products was found to be to the trust where the beneficiaries are relations of the director, the provisions of section 40A(2) were
Trust-II Deed. The settlors of the Trust are
the plaintiff and the defendant no.5 and the beneficiaries under the Trust are
the plaintiff ... interests.
C. In furtherance of the aforesaid objectives, the Settlors
propose to settle the Settlors Property for their own benefit and for
the benefit
præsenti. Though, the beneficiaries were to
become absolute owners of their respective shares after the
death of the settlor, the language of the document clearly ... enjoy the property along with
the settlor during his lifetime and after his death, each of the
beneficiaries was to get a specified share
