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1976 (2) TMI 146 - SC - VAT and Sales TaxWhether the trust deed was void and fraudulent? Held that:- Appeal allowed. It cannot be said in the present case that the trust deed executed by the settlors is prima facie fraudulent or a colourable transaction. It will, however, be open to the sales tax authorities to avoid the document by bringing a properly constituted suit, if so advised. We would also like to make it clear that any observation regarding the validity of the document that has been made in this case by us will be confined only to the materials that have been placed before us and will not prejudice the merits of either party in a suitable action which may be brought.
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