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
exceeding six years or during the life-time of the beneficiary and (2) the settlor or disponer should have no direct or indirect benefit from ... does not operate to exclude the income which the settlor receives as a beneficiary, from liability to income tax; it merely excludes that part
exceeding six years or during the
life-time of the beneficiary and (2) the settlor or disponer
should have no direct or indirect benefit from ... does not
operate to exclude the income which the
settlor receives as a beneficiary, from
liability to income tax; it merely excludes
that part
same to the beneficiary concerned. As mentioned earlier the beneficiaries mentioned in the deed are the minor children of the Settlor. The operations of these ... benefit of the minor children of the Settlor. The real purpose of the Settlor was to provide for the maintenance, education, health, marriage and advancement
clear that the three minor children of the settlor mentioned in the deed are the beneficiaries under that trust. Now we shall proceed to examine ... trust deed for the benefit of the beneficiaries, namely, the three minor children of the settlor. We have earlier seen that clause 21 gives absolute
that Act a
trustee is holding the trust property an behalf of
beneficiaries. The mere fact that this conception does not
accord with the provisions ... sons of the settLor had a right to be maintained and
educated. Therefore the shares of the beneficiaries were
indeterminate, and hence, the trustee
legal title to the estate from
the trustees to the beneficiaries after the. death of the
deceased was not a material circumstance.
On appeal ... death of the deceased; (ii)
that title "passed" to the beneficiaries immediately the
deceased died; (iii) the title that "passed
several conclusions reached by the Tribunal. Suffice it to say that the settlors were of the opinion that certain mistakes had crept into the deed ... settlement and therefore they wanted to correct the said deed. The beneficiaries under the deed had no objection for the correction in question. The Tribunal
death is reserved either expressly or by
implication to the settlor or whereby the
settlor may have reserved to himself the right
by the exercise ... absolute interest in
such property shall be deemed to pass on the
settlor's death."
[The provisos to the Section, the explanation
construing such a document. But the difficulty arises when a pious settlor with a. large family but few properties is torn between his desire ... Settlement which some times bristles with ambiguities. A favourite device with such settlors is to constitute his heirs as she baits of the deity
