https://www.taxtmi.com/caselaws?id=17475 Where beneficiaries are identified and their shares are determinate and known, trust income is to be assessed in the hands of the beneficiaries and not as an association of persons. The rule applicable to trusts with indeterminate beneficiary shares does not apply on such facts. On that basis, section 161(1) of the Income-tax Act, 1961 was held inapplicable, and the trust was not liable to assessment as an association of persons. en-us Fri, 12 Apr 1996 00:00:00 +0530 Tue, 22 Sep 2009 15:43:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17475 Where beneficiaries are identified and their shares are determinate and known, trust income is to be assessed in the hands of the beneficiaries and not as an association of persons. The rule applicable to trusts with indeterminate beneficiary shares does not apply on such facts. On that basis, section 161(1) of the Income-tax Act, 1961 was held inapplicable, and the trust was not liable to assessment as an association of persons. Case-Laws Income Tax Fri, 12 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17475