Charitable Trust only
in November, 1965 and the Trust came to be registered
under the Bombay Public Trusts Act, 1950 as Public
Charitable Trust late ... trust. The trust property has to be applied by the trustees in terms of the
Trust Deed. Thus, when the Trust Deed does not contain
Trust is a private trust
governed by the Indian Trust Act. We have our
own reservations about such assumption,
looking at the deed of Trust ... behalf of the Trust.
iii. The Trust is a Public Trust and not a Private
Trust: The appellant has argued before this Court
that
Deed of Trust dated 20 th December, 1973 one Uma
Shankar Goenka settled in trust by the name Panna Devi Goenka Charitable
Trust ... trust deed dated 20 th December, 1973.
The trust, as appears from a plain reading of the trust deed, is a private
charitable trust which
which have been enquired into i.e. Trust in New Jersey, namely
Nutshell Trust and Minerva Trust, for which the assessee reiterated the reply
given ... three beneficiaries of a Discretionary Trust named
"Nutshel Trust". The trust was settled in Jersey, Channel Islands
by my late father Mr. Navnitlal
trust is a
revocable trust, a power to revoke is essential. In other words, the Trust
Deed should have an express clause enabling the settlor ... trust. The trust property has to
be applied by the trustees in terms of the Trust Deed. Thus, when the
Trust Deed does not contain
Private
discretionary trust under the provisions of the Indian Trusts Act,
1882 created by virtue of a trust deed executed on 23.01.2018
between Mr. Anand ... beneficiaries means (a) the Settlor
(b) the spouse of the Settlor (c) the children and remoter issue of the
Settlor (d) such other objects
judicial stamp paper by Shri Ramesh Kumar Gupta, the settlor of
the said Trust incorporating the 'Irrevocable' clause deed in the principal deed ... hereby expressly declared, affirmed, and confirmed by the Settlor that the Trust
constituted under the Principal Deed is and shall remain irrevocable in all respects
submitted that the assessee trust
was created under the Trust Deed dated 22.06.1995 between Lazard Credit Capital
Limited as settlor and Sara Fund Trustee Company ... with SEBI, established under
trust deed dated 22.06.1995. The assessee has consistently maintained that the
trust is constituted by the settlor and trustee and that
with this
amount to the assessee trust and there was no liability for the trust
towards the settlor. Since the AO had already held that ... relatives of the settlor, the
impugned amount paid by the settlor in the PAN of the trust is covered by
the exception
right of revocation should be without any
conditions. The terms of trust deed made it clear that the contributions was
revocable and therefore, the income ... Summary of Arguments:
1) Whereas in the case of the trust, settlor, contributor and beneficiaries, all have to be
Independent and distinct. In the case
