https://www.taxtmi.com/caselaws?id=71640 The Tribunal upheld the decisions of the ITO and AAC, confirming that multiple trusts were created as per the Will, and the resolutions to consolidate the trusts did not negate their existence. The clear provisions of the Will could not be overridden by the executors' interpretations. The conditions for concessional tax treatment under Section 164(1)(ii) were not met. As a result, the appeals were dismissed, and the income was to be assessed at the maximum rate as determined by the ITO. en-us Mon, 14 Sep 1987 00:00:00 +0530 Tue, 26 Apr 2011 12:41:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71640 The Tribunal upheld the decisions of the ITO and AAC, confirming that multiple trusts were created as per the Will, and the resolutions to consolidate the trusts did not negate their existence. The clear provisions of the Will could not be overridden by the executors' interpretations. The conditions for concessional tax treatment under Section 164(1)(ii) were not met. As a result, the appeals were dismissed, and the income was to be assessed at the maximum rate as determined by the ITO. Case-Laws Income Tax Mon, 14 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71640