Andhra Pradesh Court April 1980 Judgments

Commissioner of Income-tax Vs. Trustees of H.E.H. the Nizam's Miscella ...

Court: Andhra Pradesh

Reported in: [1986]160ITR270(AP)

P.A. Choudary, J. 1. The late Nizam created a miscellaneous trust by means of a registered trust deed dated August 6, 1950, for the benefit of his family and his dependants. Large amounts of cash and securities specified in the Ist Schedule to the trust deed were settled upon the trust. The beneficiaries under the trust were mentioned in the several schedules to the trust deed. The portion of the trust deed which gives rise to this referential litigation is contained in clause 2(L)(iv) of the trust deed and it is, therefore, set out in full : 'So long as any one or more of the members of the family of the settlor and the dependants of the settlor whose names are mentioned in the Fourth Schedule hereunder written who are at present residing in Nazri Bagh, and Eden Garden and Gough's Bungalow continue to reside there during the continuance of this trust, the trustees shall set apart every year out of the income of the trust fund such sum as they deem fit not exceeding Rs. 1,50,000 (Rupee...