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2005 (3) TMI 49 - ALLAHABAD HIGH COURTIndia Trust Act, 1882 - none of the beneficiaries survives before attaining majority - "Whether Tribunal was legally justified in holding the assessee trust to be a valid one in spite of the fact that the trust deed did not provide for the eventuality of both the minor beneficiaries expiring before attaining majority?" - respondent is not a public trust and if none of the beneficiaries survives before attaining majority the property or corpus of the trust would revert back to the settlor or the heirs and legal representative of the settlor in case the settlor is not alive by that time. Thus the trust cannot be said to be invalid merely because the settlor has not taken care of the eventuality of both the beneficiaries dying before attaining majority -we answer the question referred to us in the affirmative, i.e., in favour of the assessee and against the Revenue
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