https://www.taxtmi.com/caselaws?id=16266 Trust income deferred until a minor beneficiary attains majority does not accrue during the relevant assessment year and cannot be included in the father's income-tax assessment. The same principle was applied to the wealth-tax issue: the Revenue could not, for the first time in reference, argue that the beneficiary's contingent interest was itself a separately taxable asset, especially where that point had not been raised before the Tribunal and would require fresh factual inquiry on valuation and incidence. On both issues, the tax treatment was resolved in favour of the assessee and against the Revenue. en-us Thu, 16 Oct 1997 00:00:00 +0530 Fri, 04 Sep 2009 18:01:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16266 Trust income deferred until a minor beneficiary attains majority does not accrue during the relevant assessment year and cannot be included in the father's income-tax assessment. The same principle was applied to the wealth-tax issue: the Revenue could not, for the first time in reference, argue that the beneficiary's contingent interest was itself a separately taxable asset, especially where that point had not been raised before the Tribunal and would require fresh factual inquiry on valuation and incidence. On both issues, the tax treatment was resolved in favour of the assessee and against the Revenue. Case-Laws Income Tax Thu, 16 Oct 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16266