https://www.taxtmi.com/caselaws?id=13118 Section 164(1), proviso (ii) applied only where income was receivable under a trust declared by will and that was the sole trust so declared by the testator. Because the will in question created three trusts, the assessee-trust could not invoke the proviso merely because trustees and beneficiaries later agreed to transfer assets from two trusts to one. The statutory position had to be tested by the trusts created in the will, not by subsequent arrangements of convenience. The assessee was therefore not entitled to the benefit of the proviso, and the answer was against the assessee and in favour of the Revenue. en-us Mon, 11 Jun 2001 00:00:00 +0530 Tue, 26 May 2009 15:03:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13118 Section 164(1), proviso (ii) applied only where income was receivable under a trust declared by will and that was the sole trust so declared by the testator. Because the will in question created three trusts, the assessee-trust could not invoke the proviso merely because trustees and beneficiaries later agreed to transfer assets from two trusts to one. The statutory position had to be tested by the trusts created in the will, not by subsequent arrangements of convenience. The assessee was therefore not entitled to the benefit of the proviso, and the answer was against the assessee and in favour of the Revenue. Case-Laws Income Tax Mon, 11 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13118