The purpose of this paper is to show an another design approach of the M-band dual-tree complex wavelet transform (DTℂWT). Conventionally, M-channel cosine-sine modulated filter bank has been proposed as an extension of cosine modulated filter bank. It can be easily designed by the modulation of one prototype filter. In this paper, we show that it can be regarded as an alternative DTℂWT with respect to its relationship to the analyticity. In addition, we also present its shift-invariance, rich directional selectivity which are effective for the image processing. Therefore it can provide the simple design of M-band DTℂWT. In this paper, these properties are verified by theoretical analysis and demonstrations.