https://www.taxtmi.com/caselaws?id=71634 The appeal was dismissed, with the Tribunal upholding the Commissioner's order under Section 263 of the Income-tax Act. The trust was deemed discretionary due to the trustees' overriding discretionary power, and the amendments to the trust deed were not considered valid for altering the assessment. The Tribunal emphasized the importance of applying the law in force during the relevant assessment year and the necessity for the ITO to consider CBDT circulars. en-us Wed, 26 Feb 1986 00:00:00 +0530 Tue, 26 Apr 2011 12:29:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71634 The appeal was dismissed, with the Tribunal upholding the Commissioner's order under Section 263 of the Income-tax Act. The trust was deemed discretionary due to the trustees' overriding discretionary power, and the amendments to the trust deed were not considered valid for altering the assessment. The Tribunal emphasized the importance of applying the law in force during the relevant assessment year and the necessity for the ITO to consider CBDT circulars. Case-Laws Income Tax Wed, 26 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71634