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TMI Blog1987 (2) TMI 56X X X X Extracts X X X X X X X X Extracts X X X X ..... e properties in the towns of Munger and Patna. In regard to some of them, he created a trust and executed a deed of trust dated March 21, 1958. The accountable person was Dr. P. K. Banerjee, son of the creator of the trust, Dr. T. N. Banerjee. The beneficiaries of the trust were (1) sons and daughters of the son of the creator of the trust-Dr. Prasun Kumar Banerjee, (2) sons and daughter of Basanta Kumar Banerjee and Hemanta Kumar Banerjee-nephews of the settlor-Dr. T. N. Banerjee, and (3) sons and daughters of Aditya Nath Banerjee-youngest brother of the settlor. The trustees were (1) Dr. T. N. Banerjee, (2) Dr. P. K. Banerjee, (3) Basanta Kumar Banerjee, (4) Hemanta Kumar Banerjee, and (5) Achalendra Nath Mukherjee. In terms of the deed o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nding upon the trustees and trust estate. 8. The settlor shall be the first chairman of the board of trustees. The chairman shall have full powers of management of the trust estate. He shall, however, act in consultation with the others of the board of trustees, and in the matter of difference of opinion between the trustees, the decision of the chairman of the board of trustees shall be final and operative. The chairman shall nominate his succeeding chairman. If the nominee happens to be an outsider, he shall be co-opted as a member of the board of trustees. The last surviving trustees shall nominate any one to act as the trustee. 10. That the trustees, if they so desire, can reside in any portion of the building which are the items of p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that nothing is mentioned about the chairman of the board and whether he was not specifically clothed with that right. But the chairman was none else than one of the trustees. Dr. T. N. Banerjee filled two characters-one as trustee and another as chairman of the board of trustees. He was chairman only by virtue of being a trustee. Therefore, all the rights of the trustees were vested in him. In that view of the matter, there is no escape from the position that the deceased had the right of residence in the trust properties. The Revenue authorities were not concerned with the chairman or trustee. They were concerned with the deceased, Dr. T. N. Banerjee, as trustee. He had the right to reside. Therefore, that right could not be taken away by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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