https://www.taxtmi.com/caselaws?id=10776 The High Court determined that the trust transitioned from discretionary to non-discretionary following the resolution defining beneficiary shares. This change influenced the tax treatment, with the court ruling in favor of the assessee. The court's decision aligned with the evidence presented, concluding that the trust should be considered non-discretionary for tax purposes. As a result, the court resolved the reference under section 256(1) of the Income-tax Act, 1961, in favor of the assessee, without imposing any costs. en-us Tue, 12 Jul 2005 00:00:00 +0530 Fri, 24 Jul 2009 19:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10776 The High Court determined that the trust transitioned from discretionary to non-discretionary following the resolution defining beneficiary shares. This change influenced the tax treatment, with the court ruling in favor of the assessee. The court's decision aligned with the evidence presented, concluding that the trust should be considered non-discretionary for tax purposes. As a result, the court resolved the reference under section 256(1) of the Income-tax Act, 1961, in favor of the assessee, without imposing any costs. Case-Laws Income Tax Tue, 12 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10776