Doctrine of Lifting of Corporate Veil and Trusts

Date: December 20, 2022 | Author: TARUN ROHATGI B.com (Hons), FCA, LLB -Senior Mentor, NIC Legal World LLP

The concept of corporate veil and its lifting thereof is judicially well recognized however when it comes to applying the doctrine to Trusts , the concept of corporate veil has not been sufficiently judicially explored or expounded. The recent decision by the Honorable Madras High Court CIT v. MAC Public Charitable Trust [2022] 144 taxmann.com 54deals with the lifting of "corporate veil in case of a trust. Though the judgement covers many issues but this article analyses it only from the point of view of lifting of corporate veil in case of Trusts .