https://www.taxtmi.com/caselaws?id=71636 The Tribunal concluded that the beneficiaries did not constitute an AOP or BOI. The Commissioner's order under section 263 was deemed invalid, and the appeal was allowed. The trustees were found to be carrying on business independently of the beneficiaries, and the assessment of the beneficiaries directly did not prejudice revenue interests. The decision confirmed that there was no AOP of the beneficiaries assessable to tax. en-us Tue, 18 Feb 1986 00:00:00 +0530 Tue, 26 Apr 2011 12:33:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71636 The Tribunal concluded that the beneficiaries did not constitute an AOP or BOI. The Commissioner's order under section 263 was deemed invalid, and the appeal was allowed. The trustees were found to be carrying on business independently of the beneficiaries, and the assessment of the beneficiaries directly did not prejudice revenue interests. The decision confirmed that there was no AOP of the beneficiaries assessable to tax. Case-Laws Income Tax Tue, 18 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71636