beneficiary or beneficiaries who are the
equitable owner (s) of the trust property. In the present case, since ADIA is
the settlor and the sole ... provision under the Indian Trust Act
also which debars the settlor from being beneficiary. In the case of Bhavna
Nalinkant Nanavati (supra), the settlor
property after such divestiture through the settlor as trustee. During the lifetime of the settlor, the settlor would be entitled to the benefits ... remained in possession through the Trustee (settlor) after the settlement was executed. Admittedly, both the settlor and the beneficiaries resided in the property
settlor ill treatment had been meted out to them
and the settlor had a feeling that after his life time, the beneficiary would ... beneficiary in possession of the said properties and the beneficiary has
taken possession of the same and the beneficiary shall enjoy the said
properties absolutely
Nizam, the settlor, since the settlor was empowered to effect changes in the trust and therefore the interest of the beneficiaries in the trust ... favour of any other beneficiaries. It also did not contemplate any change in the beneficiaries after the death of the settlor. Clause 11 empowered
natural love and affection of the Settlor for the Beneficiary, the Settlor, as the beneficial owner, assigns unto the Beneficiary the right, title and interest ... clearly contemplates that the income will be transferred to the beneficiary by the settlor after the settlor his received it and this will, be done
quantum of interest given
to each of the beneficiaries after the death of the settlor
"by his instrument by will alone ... quantum,
of interest given to each of the beneficiaries after the
death of the settlor. According to him the recital in the
deed that such
dispute inter se trustees or disputes between the
trustees and beneficiaries or disputes between beneficiaries inter se as
and when arise, the same would ... legal remedies to seek redressal of
grievances by the Settlor, Trustees and beneficiaries are governed by the
Indian Trust Act, 1882 (hereinafter referred
life.
(e) On the death of the survivor of the Settlor
and each Beneficiary leaving a child or children
and/or remoter issue ... thirteen
beneficiaries specified in the Part II of the third
schedule hereunder written (i.e. Beneficiaries
other than 7(seven) grandchildren of the Settlor
specified
natural love and affection of the Settlor for
the Beneficiary the Settlor as the beneficial
owner assigns unto the Beneficiary the right,
title and interest ... settlor acquires it. In either view, the
income from the shares will first accrue to the settlor
before the beneficiary can get it. Such income
trust to the settlor-assessee-
Whether settlor assessee entitled to the same exemption from
taxation as the beneficiary.
HEADNOTE:
The assess had created a trust ... settlor also. The agreement makes it
clear that in no event were the settlor, the trustees and
the beneficiaries to be taxed in respect
