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M/s. YOGAKSHEMAM LOANS LTD. Versus INCOME TAX OFFICER, WARD NO. 1 (2) , CIRCLE-1, THRISSUR AND PRINCIPAL COMMISSIONER OF INCOME TAX., THRISSUR

2016 (9) TMI 457 - KERALA HIGH COURT

Correction 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 .....

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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. - W.P.(C) No.21241 of 2016 - Dated:- 31-8-2016 - A.M. SHAFFIQUE, J. FOR THE PETITIONER : ADVS.SRI.HARISANKAR V. MENON, SMT.MEERA V.MENON FOR THE RESPONDENT : SRI.P.K.R.MENON, SENIOR COUNSEL. ADV. .....

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is the said application. Petitioner was heard in the matter on 10.9.2015 by the second respondent and the documents were scrutinized. The second respondent by letter dated 18.2.2016 sought for seeking clarification and intimated that there had been certain defects in the Trust Deed produced by the petitioner. Petitioner sought for approval for correcting the mistakes on the ground that those are typing errors. It is after considering the said request, Ext.P5 came to be issued, wherein the petiti .....

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mitted, the petitioner may not get the benefit of the application which was submitted by Ext.P2 as early as on 3.2.2015 and the benefits accruing from the said date. 4. Heard the learned counsel appearing for the petitioner as well as the learned Standing Counsel appearing for the respondents. 5. Statement has been filed by the learned Standing Counsel stating that insofar as no approval had been granted to the application submitted on 3.2.2015 and certain defects were noticed, the errors can be .....

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manner a Trust Deed can be amended. As indicated in Ext.P5, there is no necessity to prepare a fresh deed. A Trust Deed can be amended taking into consideration the provisions of the Trust Deed itself. Clause 5 of the Trust Deed gives power to the trustees to alter, vary or amend any of the trust or provision of the deed and the rules, subject to approval in writing of the employer. Clause 5 reads as under: 5. POWER TO AMEND THE TRUST DEED AND THE RULES. The Trustees may at any time with the pre .....

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