brought into existence a valid trust on that date?
(iii) Whether the said Trust is invalid and void ab initio as contended by the Revenue ... Section 4 of the Indian Trusts Act, a trust created for unlawful purposes is void. The learned departmental representative submitted that the unlawful purposes included
provisions in the trust deed which had provided distribution of the property of the trust on the determination of the trust. This would take place ... point of the determination of the trust. According to Clause 6 of the trust deed the trust will determine on the winding
shares including dividend thereon. Section 7 of the Indian Trusts Act, 1882 provides that a trust may be created by a person who is competent ... Indian Trust Act may be created for any lawlul purpose and if the purpose is fraudulent, the trust is void. The trust created by Mahendra
power under their trust deeds to join partnership on behalf of the trusts. Therefore, there was a breach of trust in formation of the partnership ... trust deed. Now the question remains whether this action of the trustees, for which they are empowered under the trust deed, is void or voidable
trust was relied on by the assessee. Obviously the facts relating to that trust are almost identical with the facts of the present assessee-trust ... following additional ground :
That the AAC should have held that the Trust is void and that it is a resulting trust.
He pressed his application
Trust and the AO cannot on his own come to the conclusion
that the instrument of trust is invalid. As per the assessee, a trust ... regard.
(iii) It is also not necessary to get the trust declared as void by the courts,
for the purpose of income determination under
attached thereto among the commercial and trading community, cannot be regarded as void or invalid on account of vagueness or uncertainly.
The respondent, a private ... received or held by the respondent under a trust for charitable purpose, the trust being void for vagueness and uncertainly and that the realisations partook
name of "M/s. Bhandanthamma Mathu Kalamma Trust"
consequently the entire proceedings become void ab into, on the
facts and circumstances ... name of "M/s.
Bhandanthamma Mathu Kalamma Trust"
consequently the entire proceedings become void ab
into.
iv. The reasons recorded for re-opening
business of
trust management and a professional corporate trustee is liable for breach
of trust if loss is caused to the trust fund through neglect ... Indian Trusts Act, 1982
Section 14 of
the Indian Trusts Act, 1982, specifically provides that a trustee is bound to
deal with trust property
business of trust management and a professional corporate trustee is liable for breach of trust if loss is caused to the trust fund through neglect ... Indian Trusts Act, 1982
Section 14 of the Indian Trusts Act, 1982, specifically provides that a trustee is bound to deal with trust property
