https://www.taxtmi.com/caselaws?id=71414 The Tribunal held that the trustees of a private specific trust, where beneficiaries are minors with determinate shares, should not be directly assessed for the trust's income as an Association of Persons (AOP). Beneficiaries, being minors, could not constitute an AOP, and the trustees' assessment should align with the beneficiaries' assessments. The Tribunal found the original assessments correct and set aside the Commissioner's orders under section 263, restoring the original assessment orders. The appeals were allowed in favor of the assessee. en-us Tue, 31 Jan 1989 00:00:00 +0530 Sat, 23 Apr 2011 12:50:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71414 The Tribunal held that the trustees of a private specific trust, where beneficiaries are minors with determinate shares, should not be directly assessed for the trust's income as an Association of Persons (AOP). Beneficiaries, being minors, could not constitute an AOP, and the trustees' assessment should align with the beneficiaries' assessments. The Tribunal found the original assessments correct and set aside the Commissioner's orders under section 263, restoring the original assessment orders. The appeals were allowed in favor of the assessee. Case-Laws Income Tax Tue, 31 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71414