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<h1>Trust Income for Minors Assessed Individually, Not as Body of Individuals</h1> <h3>Lalchand Tikamdas Makhija And Another Versus JK. Kuriyan, Commissioner Of Income-Tax, And Others</h3> The High Court of Bombay held that the income of a trust with minor beneficiaries should be assessed in the same manner as it would have been on the ... Trusts The High Court of Bombay held that the income of a trust with minor beneficiaries should be assessed in the same manner as it would have been on the beneficiaries individually. The assessment in the status of a body of individuals was not justified. The rule was made absolute in favor of the petitioners. (Case citation: 1990 (7) TMI 39 - BOMBAY High Court)