2016 (9) TMI 457

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....NDENT : SRI.P.K.R.MENON, SENIOR COUNSEL. ADV. SRI.JOSE JOSEPH, SC. JUDGMENT Petitioner has approached this Court seeking to challenge Ext.P5 issued by the Principal Commissioner of Income Tax, by which the petitioner is called upon to correct the mistakes in Trust Deed by preparing a fresh Deed. 2. The facts as disclosed in the writ petition would show that the petitioner filed an application b....

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....by directing a fresh deed to be prepared. Learned counsel points out that there is appropriate provision in the Trust Deed itself by way of Clause 5 to amend the Trust Deed, which alone is sufficient and there is no necessity to prepare a fresh deed in the matter. 3. It is pointed out that if a fresh deed is prepared and a fresh application is submitted, the petitioner may not get the benefit of ....

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....ly be from the amended date. 6. I do not think that I should be concerned with the date on which the approval is to be granted. The question is in what manner a Trust Deed can be amended. As indicated in Ext.P5, there is no necessity to prepare a fresh deed. A Trust Deed can be amended taking into consideration the provisions of the Trust Deed itself. Clause 5 of the Trust Deed gives power to the....

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....f the trusts and no such alteration or variation shall be made without the prior approval of the Commissioner of Income-tax having jurisdiction over the Fund. Therefore, when provisions had been made to enable the trustees with the previous concurrence and approval in writing of the employer to alter, vary or amend any of the Trusts or provisions of this Deed and the Rules, petitioner can as well ....