https://www.taxtmi.com/caselaws?id=6194 Trust income receivable by trustees on behalf of one identifiable beneficiary falls outside the proviso for income not specifically receivable on behalf of any one person or for indeterminate shares. The trust deeds showed dedication of the properties to the deity, and the trustees were not beneficial owners; the reference to trustees as beneficiaries was treated as a misdescription. On that footing, the deity was treated as the single beneficiary, so the first proviso to section 41(1) of the Indian Income-tax Act, 1922 did not apply and assessment had to proceed under the main provision, not at the maximum rate. en-us Mon, 20 Apr 1970 00:00:00 +0530 Wed, 03 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6194 Trust income receivable by trustees on behalf of one identifiable beneficiary falls outside the proviso for income not specifically receivable on behalf of any one person or for indeterminate shares. The trust deeds showed dedication of the properties to the deity, and the trustees were not beneficial owners; the reference to trustees as beneficiaries was treated as a misdescription. On that footing, the deity was treated as the single beneficiary, so the first proviso to section 41(1) of the Indian Income-tax Act, 1922 did not apply and assessment had to proceed under the main provision, not at the maximum rate. Case-Laws Income Tax Mon, 20 Apr 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6194