settling the Trusts each. These are the family
trusts formed by the assessee.
9.1.10 As per both the trust deeds, the settlor is
authorised ... Trustee shall hold the Trust Fund during the
Trust Period upo trust.
3.1 to pay the income of the trust fund to the
principal beneficiary
create a trust,
(ii) The purpose of the trust,
(iii) The beneficiaries,
(iv) The trust property, and
(v) The settlor must transfer the trust property ... trust does not make the trust invalid or incomplete. Nor does the reservation of such powers make the trust a testamentary trust
trust. Explanation 2 under Section 160 defines what an oral trust is. According to its terms an oral trust means a trust which ... trusts also to form part of the trust fund. For instance in Clause 5 of Sitharatnam Family Trust the trust fund is stated
testamentary written instrument of trust executed on 4-2-1982 (for short 'trust deed') styled as "Emjak Trust" for the benefit ... beneficiary': the subject-matter of the trust is called 'trust property' or 'trust money': 'the beneficial interest
that as per the Trust Deed the
property was to become the Trust property on the demise of
the Settlor. On the other hand ... been executed prior to the Trust Deed) the property of the
Trust, on the demise of the Settlor, would be utilised by her
brother
British Virgin Islands, constituted in September 2005
(Trust Vehicle), formed part of the trust structure;
C. the Trust was governed under the laws ... British Virgin Islands, constituted in
September 2005 (Trust Vehicle), formed part of the trust
structure; the Trust was governed under the laws
from GOI and SIDBI (i.e.,
the settlors) is an obligation of settlors as per the trust deed
and hence, cannot be treated or added ... himself has held that the trust is a Charitable
Trust Hence, the amount paid by settlors of the trust in terms
of the Trust Deed
trust fund was notionally divided into 16 units for creation of different trusts. The following are the particulars of trusts created by the Settlor through ... that the jewellery of the trust could be sold in the international market. By creating this trust, the Settlor invited calamities to his family. Considerable
cannot be considered as a Trust as per the provisions of Indian Trust
Act, 1882 , in view of the Settlor and the Beneficiaries ... trust. Further, as per Sec. 7 of the Indian
Trust Act, 1882, any person competent to contract can become a settlor of the
trust
cannot be considered as a Trust as per the provisions of Indian Trust
Act, 1882 , in view of the Settlor and the Beneficiaries ... trust. Further, as per Sec. 7 of the Indian
Trust Act, 1882, any person competent to contract can become a settlor of the
trust
