assessee-trusts, viz., M. Ct. Trust, S. Rm. M. Ct. M. Thiruppani Trust and M. Ct. Muthiah Chettiar Family Trust, made over the accumulated income ... each of the settlor--trusts and the funds or assets of the institutions, were transferred by the settlors or other persons including the income
Venkatarama Sastriar that an entrustment requires the elements of a trust - settlor, trustee and beneficiary and that those elements are wanting here. The language
contention that a power reserved by the settlor in the instrument of trust to lend money to himself with or without interest would amount ... trust deed the founder himself was one of the trustees. Clause 8 of the trust deed dealing with investment gave powers to the settlor
conveyed certain lease-hold properties to trustees on trust for the bnefit of the settlor's children. At the same time the settlor assigned ... same time conveying certain leasehold property to the trustees on similar trusts. The settlor became bankrupt and the Official Receiver claimed the money payable under
settlement the income and capital of the trust fund were to be held on trust after the settlor's death for such ... settlor's death was the trust fund and that this trust fund the settlor held as trustee for another person
date of the trust deed, the deed of trust would become void and the trust fund shall become reinvested in the settlor as a beneficial ... assessee created two trusts known as M. C. Shyamala Marriage Benefit Trust and M. S. Sowmiyaram Marriage Benefit Trust. The trusts were created under
assessee-trust viz., M.Ct. Trust, S. Rm..M.Ct.M. Thiruppani Trust and M.Ct. Muthiah Chettiar Family Trust made over the accumulated income ... each of the settlor-trusts and the funds or assets of the institutions, transferred by settlors or other persons including the income and accumulation thereof
suit was brought. This is the reason why trustees of public trust of a religious nature are precluded from suing under the section to vindicate ... legal remedies available to the author of the Trust/settlor, Trustees and the beneficiaries for ventilating their several grievances in respect of their rights duties
trust is revocable trust and squarely
covered by section 61 of the Income Tax Act.
Accordingly, we hold that Trust is a revocable Trust ... attention to clause 29 of the Trust Deed submitted
that the Trust in question was irrevocable by the Settlor i.e., the Government
of Tamil
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
