https://www.taxtmi.com/caselaws?id=11416 The High Court of UTTARANCHAL ruled in favor of the Department in two appeals concerning the assessment year 1980-81. The court upheld the reassessment of the assessee's income under Explanation 2A to section 64(1)(iii) of the Income-tax Act, stating that income indirectly accrued to minor children through trusts, justifying its inclusion in the assessee's total income. The judgment emphasized the minors' vested interest in the trust income, despite deferred payment until they reached 18 years old. Consequently, the court dismissed both appeals, affirming the reassessment and inclusion of trust income in the assessee's total income. en-us Fri, 24 Oct 2003 00:00:00 +0530 Sat, 08 Aug 2009 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11416 The High Court of UTTARANCHAL ruled in favor of the Department in two appeals concerning the assessment year 1980-81. The court upheld the reassessment of the assessee's income under Explanation 2A to section 64(1)(iii) of the Income-tax Act, stating that income indirectly accrued to minor children through trusts, justifying its inclusion in the assessee's total income. The judgment emphasized the minors' vested interest in the trust income, despite deferred payment until they reached 18 years old. Consequently, the court dismissed both appeals, affirming the reassessment and inclusion of trust income in the assessee's total income. Case-Laws Income Tax Fri, 24 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11416