https://www.taxtmi.com/caselaws?id=5664 Amounts received by an assessee from discretionary trusts were treated as taxable in the assessee's hands under section 166 of the Income-tax Act, 1961. The earlier High Court view had been reversed, and the controlling precedent required the receipt to be assessed as income in the assessee's hands for the first question referred. The issue was answered in favour of the Revenue and against the assessee. en-us Thu, 08 Feb 1996 00:00:00 +0530 Thu, 27 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5664 Amounts received by an assessee from discretionary trusts were treated as taxable in the assessee's hands under section 166 of the Income-tax Act, 1961. The earlier High Court view had been reversed, and the controlling precedent required the receipt to be assessed as income in the assessee's hands for the first question referred. The issue was answered in favour of the Revenue and against the assessee. Case-Laws Income Tax Thu, 08 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5664