https://www.taxtmi.com/caselaws?id=166634 A contributory trust with a fixed beneficiary class and a formula for proportional distribution was treated as a determinate trust assessable under section 161, not section 164, for non-business income. The Mauritius investment company and investment manager were accepted as Mauritian residents, and no permanent establishment in India was found on the record, though that question remained fact-dependent. Income received through the trust retained its character in the beneficiary's hands: dividend and interest remained taxable in India, while capital gains attributable to treaty-covered alienation were exempt. Withholding obligations applied subject to the assessees establishing entitlement to section 161 and DTAA relief. en-us Wed, 14 Aug 1996 00:00:00 +0530 Fri, 20 Nov 2015 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=166634 A contributory trust with a fixed beneficiary class and a formula for proportional distribution was treated as a determinate trust assessable under section 161, not section 164, for non-business income. The Mauritius investment company and investment manager were accepted as Mauritian residents, and no permanent establishment in India was found on the record, though that question remained fact-dependent. Income received through the trust retained its character in the beneficiary's hands: dividend and interest remained taxable in India, while capital gains attributable to treaty-covered alienation were exempt. Withholding obligations applied subject to the assessees establishing entitlement to section 161 and DTAA relief. Case-Laws Income Tax Wed, 14 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=166634