https://www.taxtmi.com/caselaws?id=19018 In representative assessment under section 161 of the Income-tax Act, a trustee is taxed in the same manner and to the same extent as the beneficiary for both computation of income and tax liability. On that basis, dividend income received by the trust from the beneficiary company was treated as eligible for deduction under section 80M, as there was no legal bar to allowing the deduction in that representative capacity. The deduction was therefore held allowable where the statutory conditions were satisfied, and the issue was resolved in favour of the assessee-trust. en-us Wed, 08 Mar 1995 00:00:00 +0530 Tue, 03 Nov 2009 13:48:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19018 In representative assessment under section 161 of the Income-tax Act, a trustee is taxed in the same manner and to the same extent as the beneficiary for both computation of income and tax liability. On that basis, dividend income received by the trust from the beneficiary company was treated as eligible for deduction under section 80M, as there was no legal bar to allowing the deduction in that representative capacity. The deduction was therefore held allowable where the statutory conditions were satisfied, and the issue was resolved in favour of the assessee-trust. Case-Laws Income Tax Wed, 08 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19018