https://www.taxtmi.com/circulars?id=4558 Where the tax department elects to assess trust income in the hands of either trustees or beneficiaries, that choice governs liability for the assessment year and the same income must not be assessed again in the hands of the other person; inclusion of the trust share in a beneficiary's total income for rate purposes after the trustees have been assessed would amount to a second assessment and is inconsistent with the statutory scheme. en-us Thu, 26 Dec 1974 00:00:00 +0530 Wed, 30 Jul 2008 15:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4558 Where the tax department elects to assess trust income in the hands of either trustees or beneficiaries, that choice governs liability for the assessment year and the same income must not be assessed again in the hands of the other person; inclusion of the trust share in a beneficiary's total income for rate purposes after the trustees have been assessed would amount to a second assessment and is inconsistent with the statutory scheme. Circulars Income Tax Thu, 26 Dec 1974 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4558