creation of a trust in property ;"
9. Indian Trusts Ad, 1882 :
"3. Interpretation clause. -- Trust'
A 'trust' is an obligation ... hold the trust fund and the investments for the time being representing the trust fund upon trust for the settlor and if the settlor
includes
(a) the creation of trust in property;
Indian Trusts Act 1882.
"3. Interpretation clause-Trust
A trust is an obligation annexed ... hold the trust fund and the investments for the time being representing the trust fund upon trust for the settlor and if the settlor
prevails over Clause 4 and UK trusts, like US trusts are also discretionary trusts and not specific trusts as held by the Settlement Commission. According ... trusts :
"The Clause 3 settles the trust income and property upon two successive trusts. The first trust in the Settlement
that no trust, by name, Dynavision Dealers' Welfare Trust had come into existence on 27-11-1984 and the deed of trust dated ... settlor is not vested with the power to revoke the trust deed, but the settlor is empowered to alter the terms of the trust deed
open to the trustees to transfer the trust fund to public charitable trust, As far as Clause 20 of the deed is concerned, though ... settlor is not vested with the power to revoke the trust deed, but the settlor is empowered to alter the terms of the trust deed
assessee-trust is assumed to be a valid charitable trust at the inception, in any case, it ceased to be a charitable trust ... trust was created by one Shri Ramchander Johari vide trust deed dated 8-11-1962. The assessee-trust claimed exemption under sections
applicability.
203 ITR 764 (Patna) An employee of the settlor is not
covered by Section 13(3) .
244 ITR 494 (Raj) For any misutilisation ... Tata Steel Charitable Trust , 203 ITR 764, was dealing with an employee of the settlor and not a founder and executive secretary
further conditions imposed. It is nothing but creation of a trust upon a trust by distribution of corpus by entering into partnership trustee ... trust deed, it has to be of the entire corpus as provided in Clause (f) of the trust deed. No mandate or discretion is given
divests himself of the property and after declaration of trust it is binding on the settlor with the object for which the property thereafter
assessee-trust is assumed to be a valid charitable trust at the inception, in any case, it ceased to be a charitable trust ... trust was created by one Shri Ramchander Johari vide trust deed dated November 8, 1962. The assessee-trust claimed exemption under Sections
