https://www.taxtmi.com/caselaws?id=7920 A trust deed may create a present beneficial interest for minor beneficiaries even where enjoyment of income is postponed until majority, if the trustees are required to accumulate annual income for their benefit and may also apply it discretionarily for maintenance, education or advancement. In such a case, the minors can claim proper exercise of the trustees' discretion when occasion requires. Section 16(3)(b) of the Indian Income-tax Act, 1922 is an anti-avoidance provision and is to be strictly construed, but it can still apply where the trust arrangement confers beneficial enjoyment in the relevant year through accumulated income or enforceable discretionary benefits. en-us Wed, 21 May 1969 00:00:00 +0530 Tue, 24 Mar 2009 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7920 A trust deed may create a present beneficial interest for minor beneficiaries even where enjoyment of income is postponed until majority, if the trustees are required to accumulate annual income for their benefit and may also apply it discretionarily for maintenance, education or advancement. In such a case, the minors can claim proper exercise of the trustees' discretion when occasion requires. Section 16(3)(b) of the Indian Income-tax Act, 1922 is an anti-avoidance provision and is to be strictly construed, but it can still apply where the trust arrangement confers beneficial enjoyment in the relevant year through accumulated income or enforceable discretionary benefits. Case-Laws Income Tax Wed, 21 May 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7920