https://www.taxtmi.com/caselaws?id=178033 Where a trust has beneficiaries with specified and known shares, its income falls within representative assessment under the Income-tax Act, 1961. On that basis, the Madras HC held that such income could not be assessed in the status of an Association of Persons under section 161 or section 161(1A). The court therefore answered the question against the Revenue and in favour of the assessee, holding that the trust income was not liable to AOP assessment. en-us Tue, 03 Dec 2002 00:00:00 +0530 Wed, 27 Jan 2016 13:03:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178033 Where a trust has beneficiaries with specified and known shares, its income falls within representative assessment under the Income-tax Act, 1961. On that basis, the Madras HC held that such income could not be assessed in the status of an Association of Persons under section 161 or section 161(1A). The court therefore answered the question against the Revenue and in favour of the assessee, holding that the trust income was not liable to AOP assessment. Case-Laws Income Tax Tue, 03 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178033