https://www.taxtmi.com/caselaws?id=68074 The Tribunal ruled in favor of the assessee, determining that the trust in question was specific in nature and not a discretionary trust subject to maximum marginal rates under s. 164 of the Act. The trust deed clearly outlined specific beneficiaries with predetermined income shares, leaving no room for trustee discretion in income distribution. Legal precedents were considered, and the Tribunal emphasized that the income should be assessed in the beneficiaries' hands. The appeal was allowed, and the income assessment was directed to be in accordance with the specific beneficiaries identified in the trust deed. en-us Thu, 04 May 1989 00:00:00 +0530 Wed, 16 Mar 2011 17:43:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68074 The Tribunal ruled in favor of the assessee, determining that the trust in question was specific in nature and not a discretionary trust subject to maximum marginal rates under s. 164 of the Act. The trust deed clearly outlined specific beneficiaries with predetermined income shares, leaving no room for trustee discretion in income distribution. Legal precedents were considered, and the Tribunal emphasized that the income should be assessed in the beneficiaries' hands. The appeal was allowed, and the income assessment was directed to be in accordance with the specific beneficiaries identified in the trust deed. Case-Laws Income Tax Thu, 04 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68074