Court : Mumbai
Reported in : 110ITR227(Bom)
..... looked at and a too rigid and technical approach ought not to be encouraged. if upon scrutiny of all the relevant provisions of the indenture of trust it appears that a valid trust as contemplated by the indian trusts act was created, then instead of giving too much importance to want of precise language the substance of the matter should be looked at. if that ..... by reason of the deed itself they transferred the said properties to the trustees and as the trust is duly registered it is effective in law to create a valid transfer both having regard to the provisions of the indian trusts act as well as the indian registration act. further, the operative part of the indenture that the trustees shall hold all sums and properties, ..... areas of greater bombay, poona city and kanara districts in bombay state......' 9. a valid indenture of trust can be created under the indian trusts act, 1882, in the manner contemplated by section 5 and section 6 thereof. section 5, inter alia, provides that no trust in relation to immovable property is valid unless declared by a non-testamentary instrument in writing signed by ..... then there can be no doubt whatsoever that by the very indenture of trust the immovable properties mentioned therein are transferred to the trustees and a trust is declared by the trustees. such a document, he submitted, is sufficient to constitute a valid trust under the indian trust act. he further submitted that the trust was in respect of property known as 'abhay' at versova as .....Tag this Judgment!
Court : Mumbai
Reported in : 1998(1)BomCR715
..... heavily relied upon the judgment reported in the case of fletcher v. collins, 1905 vol. ii, chancery division, page 24. mr. tulzapurkar further submitted that under section 63 of the indian trusts act, if it is not possible to trace the property, then relief cannot be granted and in the circumstances, section 63 has no application to the facts of the case. he ..... market rate has not beentaken into account and in the circumstances, the rent remains undervalued and the best rent has not been fixed. mr. bharucha further contends that under the indian trust act, trustees are duty bound to obtain best rent looking to the interest of the beneficiaries. mr. bharucha contended that looking to the location of the office premises and area of ..... either to challenge cancellation of agreement dated 19th october 1984 being the amenities agreement nor was any action taken to attain the best rent. mr. bharucha contended that under the indian trusts act, it is a duty of the trustee to obtain the best possible rent taking into account interest of the beneficiaries. he further contended that the suit agreement gives a complete ..... the said agreement dated 18th december 1992 has been entered into between the trustees on the one hand an defendant no. 5 on the other hand in breach of the indian trust act and, therefore, it is prayed that the said agreement be declared as null and void.the facts giving rise to the above dispute briefly are as follows :3. ashok ganpat .....Tag this Judgment!
Court : Mumbai
Reported in : 2010(1)BomCR294
..... and contents of the indian public trusts act and since the language of the preamble and provisions of indian public trust act being straightforward and unambiguous and is capable of conveying the intention of legislature, concluded that the provisions of indian trusts act are applicable only to private trusts and not the public trusts. the preamble of the indian trusts act clearly shows that the indian trusts act was enacted by the ..... backdrop of this legal position, there was no occasion for the learned single judges to refer the question about applicability of provisions of sections 47 and 48 of the indian trusts act, 1882 to the full bench. the relevant observations of the apex court in para (15) of its judgment in chandramohan pandurang kajbaje v. state of maharashtra ..... evolved by the legislature in particular or in general and incorporated in the bombay public trusts act, 1950 so that the provisions of the indian trusts act, 1882 can be read in bombay public trusts act, 1950. on the other hand, the preamble and provision of section 1 of indian trusts act, 1882 are otherwise. even otherwise, the apex court in the case of thayarammal ( ..... legislation. the courts interpret laws and do not legislate any. it is from this perspective also, applying the provisions of sections 47 and 48 of the indian trusts act to the public trusts without there being any legislation to that effect evolved by the parliament or state legislature, in our view, would be impermissible and more so because the .....Tag this Judgment!
Court : Mumbai
Reported in : 2010(1)BomCR289
..... only one of the trustees.8. mr. chopde, learned counsel for the respondents, submits that the suit is not maintainable in view of the provisions of section 47 of the indian trust act as well as the decision rendered by this court in 1994 mh.l.j.280 nagar wachan mandir, pandharpur v. akbaralli abdulhusen and sons and ors. he submits that even ..... through chairman and secretary is maintainable.9. as against this shri apte, learned counsel appearing for respondents places heavy reliance upon two sections of the indian trusts act, 1882. he relies upon section 47 and 48 of the act. section 47 is as follows:a trustee cannot delegate his office or any of his duties either to a cotrustee or to a stranger, unless ..... make a reference to the larger bench for the reasons as stated above.14. the questions that can be referred to are as follows(1) whether section 47 of the indian trust act is applicable to a public trust and thus limits the powers of the board of trustees to delegate their powers in regard to institution of suit for recovery of the ..... . shri gordey, learned counsel for the petitioner, on the other hand contends that section 47 of the indian trust act has no application to a public trust at all, as said act applies to the private trust. he submits that the plaintiff is a public trust admittedly and therefore, is not governed by section 47 at all and therefore, the impediment as given in section 47 would .....Tag this Judgment!
Court : Karnataka
Reported in : ILR1990KAR893; 1988(3)KarLJ377
..... hence did not attract the prohibition contained in sections 56 and 58 of the indian trusts act. 9. in the light of the contentions advanced, the first point to be considered is as to the meaning of the words 'transfer', 'surrender' ..... contended that the proviso to section 58 of the indian trusts act was not attracted to the present case inasmuch as the assessee had merely surrendered her interest, the same did not amount to a transfer and ..... he benefit for her natural life. the expression used in the settlement deed was not what was contained in sections 56 and 58 of the indian trusts act, but what is ordinarily understood under the english law. therefore, it did not mean that the assessee had no power to efface herself by ..... by the assessee or to efface herself was absolute, the restraint would be void. on the effect of the proviso to section 58 of the indian trusts act, it was stated that it did not exactly restrain the power of anticipation and without a transfer, a person can deprive himself of his life ..... assessee shall not have the power of anticipation during coverture, while what was prohibited under the proviso to section 56 or 58 of the indian trusts act was that she cannot transfer her interest bring the subsistence of her marriage and anticipation could be equated with alienation or transfer. it was .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : 139ITR517(AP)
..... . the points raised by the learned counsel for the revenue are with regard to the validity of the trust. sections 5 and 6 of the indian trusts act, 1882, which deal with the creation of a valid trust, read as under .. '5. trust of immovable property.--no trust in relation to immovable property is valid unless declared by a non-testamentary instrument in writing signed by the ..... for the assessee also referred to an extract from the corpus juris secundum (vol. 89, chapter 45, pp. 788 to 791) which is given in o.p. aggarwala's the indian trusts act, 1882 (7th edition) (vide pages 221 and 222) which runs thus : 'the rule of certainty in the material terms of a declaration of ..... counsel for the revenue is that the provisions of sections 5 and 6 of the indian trusts act are not satisfied and, therefore, no valid trust is created. it was also contended that even if there is a trust formed in june, 1961, it was not a part of the trust formed on august 12, 1957; the learned counsel for the respondent, sri y.v. anjaneyulu ..... hand, submitted that all the ingredients contemplated by sections 5 and 6 of the indian trusts act, which go to constitute a valid trust, have been complied with in the present case, and the facts and circumstances clearly go to show that the trust created in 1961 is a part of the trust formed in 1957. 6. to appreciate the above contentions it is necessary to .....Tag this Judgment!
Court : Madhya Pradesh
Reported in : (1983)35CTR(MP)31; 144ITR808(MP)
..... its opinion.3. shri palkhivala, the learned counsel for the assessee, contended that the provisions of section 8 of the indian trusts act were not attracted as the indian trusts act was not applicable to an educational trust and that the proviso to section 58 of the indian trusts act was also not attracted as property was not transferred in the instant case, for the benefit of a married woman ..... no. 4: in view of our aforesaid answers, it must be held that the tribunal was not justified in holding that the provisions of sections 8 and 9 of the indian trusts act were attracted in the instant case. our answer to this question is in the negative and against the revenue.12. question no. 5 : it is well settled that a remainderman ..... consideration to the contentions advancedon behalf of the parties, we now proceed to answer the question referredby the tribunal to this court.question no. (1): 6. section 58 of the indian trusts act reads as under : '58. the beneficiary, if competent to contract, may transfer his interest, but subject to the law for the time being in force as to the circumstances and ..... ) aggrieved by the order passed by the cit (appeals), the assessee as well as the department preferred appeals before the tribunal, the tribunal held that under section 58 of the indian trusts act, 1882, when property was transferred or bequeathed for the benefit of a married woman, she had no power to deprive herself of her beneficial interest. the tribunal further held that .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR1967SC1162; 1967(0)BLJR752; 37CompCas204(SC); 2SCR429
..... trust. it is true that where there is a clear trust and the trust deed if any provides that the trustee may use the trust property as he likes ..... deposit is made, the court may come to the conclusion that anything in the nature of trust was not intended, for generally speaking in view of section 51 of indian trust act, (no. 2 of 1882) a trustee cannot use or deal with the trust property for his own profit or for any other purpose unconnected with the ..... in certain circumstances segregation had been provided for. the court was entitled to take that fact into consideration and hold that the deposit was not impressed with trust till segregation took place. in the allahabad case a floating charge was created which failed for want of registration, and that circumstance was also used to ..... for due performance of his duties. it may be added that such cases were later provided for specifically by the amendment of the indian companies act (no. vii of 1913) which was made in 1936 and by which section 282-b was added to the companies ..... 230(1) of the same act. even so, these two cases make it clear that the proper approach to the question is to ask whether on the interpretation of the document, if there is one, or from proved or admitted facts and circumstances a trust is established or not. if a trust is established, a provision for .....Tag this Judgment!
Court : Supreme Court of India
Reported in : (1991)94CTR(SC)195; 190ITR1(SC); JT1991(2)SC256; 1991(1)SCALE669; 1991Supp(1)SCC229; 2SCR237
..... his part to divest himself of all beneficial interest in it and to exercise dominion and control over it' exclusively in the character of a trustee. section 6 of the indian trusts act, makes this clear beyond all doubt. in the present case there is a deed which makes clear the unequivocal intention to utilise the income from the properties in the manner ..... is no dispute that the income from the property is applied wholly for religious and charitable purposes. section 4(3)(i) of the indian income-tax act, 1922 and its successor; section 11(1)(a) of the income-tax act, 1961 (insofar as they were applicable to the assessment years before us) exempt the income derived by an assessee from 'property held in ..... the hands of the family, as he was of opinion that the trust deed only purported to transfer the income from the properties to the trust but not the corpus thereof and that, therefore, the income was not eligible for exemption under section 4(3)(i) of the indian income tax act, 1922. appeals by the assessee to the a.a.c. and the ..... tribunal were unsuccessful.9. it may be mentioned here that, on 9th august, 1960, shri chhadami lal and his son had executed another registered document. this document referred to the creation of the trust in 1947 which, it was stated .....Tag this Judgment!
Court : Delhi
Reported in : AIR1969Delhi75; ILR1968Delhi41
..... connection with his own affairs.'it is pertinent to point out that their lordships of the supreme court, made the above observation, after quoting sections 46 and 47 of the indian trusts act. it is with reference to this. shri sethi argued that the mere submission of resignation by the first plaintiff did nto amount to his ceasing to be a trustee ..... consequently, the first plaintiff continued to be the trustee. he invited my attention to the principles contained in section 46 of the indian trusts act, which is as follows:'46. trustee cannto renounce after acceptance: a trustee who has accepted the trust cannto afterwards renounce it except (a) with the permission of a principal civil court of original jurisdiction, or (b) if the ..... of the act inapplicable to public or private religious or charitable endowments; and so. these sections may nto in terms apply to the trust now in question. these sections however embody nothing more or less than the principles which have been applied ..... public charitable trusts, still the principles contained in that section will be applicable to the case of the public charitable trusts. for this purpose, the learned counsel placed strong reliance on the following passage occurring in the judgment of the supreme court in abdul kayum v. mulla alibhai : 3scr623 :'it is true that section 1 of the indian trusts act makes provisions .....Tag this Judgment!