Commissioner of Income Taxd vs. M/sA.,Venjkatarao AND Others

Inasmuch as all that is required is for the settler of the trust to declare that the

Bench: V.V.S.RAO,RAMESH RANGANATHAN

cash of `2,200/- contributed by the two founder trustees but no business undertaking as such was settled upon trust. On the basis of this distinction, the CIT (Appeals) took the view that the judgment of the Madras High Court did not apply. ITA 309/2003,417/2003,18/2004,722/2007,770/2011,1050/2011 and 1051/2011 Page 6 of 20 8. The aforesaid view

Principal Commissioner of Income Tax-2 vs. M/s Indur Green Power Private Limited

In the result, all the appeals fail and are hereby

RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY