1999 (9) TMI 52

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....y deed, by which the right given to the assessee by the earlier deed was modified and right of the assessee in the property at door No. 15, Govindappa Naicken Street, George Town, Madras, was confined to the first floor of the building. The Tribunal as also the Commissioner have disagreed with the view of the Income-tax Officer that notwithstanding the supplementary deed the entire property should....

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...., on the facts and in the circumstances of the case, the Appellate Tribunal was right in law and had -valid materials to hold that only the life interest attributable to the first floor of the property at 15, Govindappa Naicken Street, Madras, can alone be considered in the hands of the assessee, as wealth for the purpose of wealth-tax assessment? 2. Whether, on the facts and in the circumstanc....

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....act contrary to the terms of the deed by which his interest in the trust property is limited. The power of the trustee is derived from and is limited to what has been conferred by the document by which the trust has been created. All amendments or modifications made thereto by the settlor, which are otherwise legally valid, are binding on the trustee. By the supplementary trust deed, as already no....