https://www.taxtmi.com/caselaws?id=5128 The Supreme Court affirmed the High Court's decision, upholding the inclusion of income from trust properties in Nagappa's total income under Section 64(v) of the Income-tax Act, 1961. The Court clarified that assessments on minor beneficiaries do not prevent the application of Section 64(v) to the settlor's income. It emphasized the Income-tax Officer's discretion to assess the income in the hands of the settlor and ruled that the assessments on minor beneficiaries would be nullified, with any tax collected to be refunded. Nagappa's appeal was dismissed with costs. en-us Wed, 04 Sep 1968 00:00:00 +0530 Thu, 20 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5128 The Supreme Court affirmed the High Court's decision, upholding the inclusion of income from trust properties in Nagappa's total income under Section 64(v) of the Income-tax Act, 1961. The Court clarified that assessments on minor beneficiaries do not prevent the application of Section 64(v) to the settlor's income. It emphasized the Income-tax Officer's discretion to assess the income in the hands of the settlor and ruled that the assessments on minor beneficiaries would be nullified, with any tax collected to be refunded. Nagappa's appeal was dismissed with costs. Case-Laws Income Tax Wed, 04 Sep 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5128