A trust is a distinct legal entity.

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....976 A case has been brought to the notice of the Board in which the Karta of an H.U.F. transferred certain properties of the H.U.F. to a trust constituted for the benefit of the Karta's wife and ch....

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....of the H.U.F. is a bilateral transaction involving two distinct entities, namely, the H.U.F. and the trust. If such transfers are for no consideration or for less than adequate consideration, the prov....