https://www.taxtmi.com/caselaws?id=17474 The court ruled against the assessee, affirming the assessment of the trust's income under section 161(1) of the Income-tax Act. It determined the beneficiaries as a body of individuals rather than an association of persons, emphasizing their passive role in the trust's business and lack of active involvement in income production. The income accrued to the trust, with beneficiaries having no immediate right to it, leading to the assessment in the trust's hands. en-us Mon, 18 Mar 1996 00:00:00 +0530 Tue, 22 Sep 2009 15:40:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17474 The court ruled against the assessee, affirming the assessment of the trust's income under section 161(1) of the Income-tax Act. It determined the beneficiaries as a body of individuals rather than an association of persons, emphasizing their passive role in the trust's business and lack of active involvement in income production. The income accrued to the trust, with beneficiaries having no immediate right to it, leading to the assessment in the trust's hands. Case-Laws Income Tax Mon, 18 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17474