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2016 (9) TMI 457 - HC - Income TaxCorrection in mistakes in Trust Deed - preparation of fresh deed - Held that:- When provisions had been made to enable the trustees with the previous concurrence and approval in writing of the employer to alter, vary or amend any of the Trusts or provisions of this Deed and the Rules, petitioner can as well make such amendments and thereafter, the same can be produced before the Commissioner of Income Tax for approval. In fact, such a method has not been adopted by the petitioner as evident from the records. Petitioner had only sent Ext.P4 which does not contain the required amendments as specified under the Trust Deed. Therefore, it is necessary that the petitioner will have to submit an amendment made in accordance with the provisions and seek approval of the Commissioner of Income Tax. However, it is clarified that a fresh deed is not required in the matter as contemplated in Ext.P5. Accordingly, this writ petition is disposed of as under: (i) Petitioner is free to alter or correct the mistakes that had crept in the Trust Deed and thereafter comply with the procedure prescribed in Clause 5 as stated above. (ii) If such an application is filed, it shall be open for the Commissioner of Income Tax to take appropriate decision in the matter in accordance with law.
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