https://www.taxtmi.com/caselaws?id=19087 The court held that the income assigned by beneficiaries to a charitable trust was divested at the source and could not be taxed in the beneficiaries' hands. By relinquishing their right to receive a portion of the income, the beneficiaries diverted the income to the charitable trust. Drawing on legal precedents, the court distinguished between the application of income and diversion of income, ultimately dismissing the petition and ruling in favor of the charitable trust. en-us Tue, 09 Jun 1992 00:00:00 +0530 Tue, 03 Nov 2009 18:42:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19087 The court held that the income assigned by beneficiaries to a charitable trust was divested at the source and could not be taxed in the beneficiaries' hands. By relinquishing their right to receive a portion of the income, the beneficiaries diverted the income to the charitable trust. Drawing on legal precedents, the court distinguished between the application of income and diversion of income, ultimately dismissing the petition and ruling in favor of the charitable trust. Case-Laws Income Tax Tue, 09 Jun 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19087