2004 (1) TMI 39

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....court was delivered by M. S. Shah J.-In this reference at the instance of the Revenue, the following question is referred for our opinion in respect of the assessment year 1981-82: "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that public charitable trust had been validly created by the will executed by the deceased and as suc....

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.... and immovable properties settled upon the trust. The Wealth-tax Officer as well as the Deputy Commissioner of Wealth-tax (Appeals) negatived the assessee's claim on the ground that since no trust deed was executed, the properties were not held under any trust for charitable purposes. The Tribunal held that the trust was created under a will itself and there was no necessity of executing a trus....

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....f immovable property. -No trust in relation to immovable property is valid unless declared by a non-testamentary instrument in writing signed by the author of the trust or the trustee and registered, or by the will of the author of the trust or of the trustee. Trust of moveable property: No trust in relation to movable property is valid unless declared as aforesaid, or unless the ownership o....

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....his part to create a trust, the purpose of the trust, the beneficiary and the trust property, the moment the testator expires, the trust would come into being. The bracketed words in section 6 makes it clear that formal transfer of trust property to the trustee is not required to be made where the trust is declared by will or the author of the trust is himself to be the trustee. In view of the ....