https://www.taxtmi.com/caselaws?id=5450 The court held that the Revenue has the option to assess and recover tax from either the trustees or the beneficiaries of a discretionary trust in respect of income distributed and received by the beneficiaries during the accounting year. The appeals were allowed, the judgment of the majority was set aside, and the references were answered in favor of the Revenue. No costs were awarded. en-us Mon, 09 May 1994 00:00:00 +0530 Fri, 09 May 2014 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5450 The court held that the Revenue has the option to assess and recover tax from either the trustees or the beneficiaries of a discretionary trust in respect of income distributed and received by the beneficiaries during the accounting year. The appeals were allowed, the judgment of the majority was set aside, and the references were answered in favor of the Revenue. No costs were awarded. Case-Laws Income Tax Mon, 09 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5450