https://www.taxtmi.com/caselaws?id=13438 The proper application of section 164 and Explanation 1(ii) depended on whether the trust deed expressly stated and made ascertainable the individual shares of the persons for whose benefit the income was receivable. The Tribunal had focused on assignment of rights and general tax avoidance observations without first applying that statutory test to the deed. As that construction exercise was not properly undertaken, the Tribunal's order could not be sustained and the matter had to be reconsidered in accordance with law. en-us Thu, 13 Jul 2006 00:00:00 +0530 Thu, 28 May 2009 18:44:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13438 The proper application of section 164 and Explanation 1(ii) depended on whether the trust deed expressly stated and made ascertainable the individual shares of the persons for whose benefit the income was receivable. The Tribunal had focused on assignment of rights and general tax avoidance observations without first applying that statutory test to the deed. As that construction exercise was not properly undertaken, the Tribunal's order could not be sustained and the matter had to be reconsidered in accordance with law. Case-Laws Income Tax Thu, 13 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13438