https://www.taxtmi.com/caselaws?id=17719 The court ruled in favor of the assessee on all three issues. It held that separate assessments were not required for different periods, as the new trust created with common beneficiaries rendered the old trust defunct. The court also found the extinguishment of the first trust and creation of a new trust valid, as the corpus had been transferred. Additionally, the assessment of the trust created on July 1, 1981, under section 161 of the Income-tax Act, 1961, in a representative capacity was upheld. The court ruled against the Revenue in all three matters, favoring the assessee throughout. en-us Tue, 20 Aug 1996 00:00:00 +0530 Thu, 24 Sep 2009 13:11:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17719 The court ruled in favor of the assessee on all three issues. It held that separate assessments were not required for different periods, as the new trust created with common beneficiaries rendered the old trust defunct. The court also found the extinguishment of the first trust and creation of a new trust valid, as the corpus had been transferred. Additionally, the assessment of the trust created on July 1, 1981, under section 161 of the Income-tax Act, 1961, in a representative capacity was upheld. The court ruled against the Revenue in all three matters, favoring the assessee throughout. Case-Laws Income Tax Tue, 20 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17719