https://www.taxtmi.com/caselaws?id=19393 The Tribunal held that income generated from trusts for minor beneficiaries, as per the trust deed clauses, could not be added to the father's total income under the Income-tax Act. The clause allowed income accumulation for minors until they reached the age of majority. The court emphasized the need to interpret the trust deed as a whole and rejected the Revenue's argument on discretionary spending. It ruled in favor of the assessees, emphasizing strict interpretation of deeming provisions and limiting income charge to actual spending for minors' benefit. en-us Mon, 28 Feb 1994 00:00:00 +0530 Thu, 05 Nov 2009 18:13:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19393 The Tribunal held that income generated from trusts for minor beneficiaries, as per the trust deed clauses, could not be added to the father's total income under the Income-tax Act. The clause allowed income accumulation for minors until they reached the age of majority. The court emphasized the need to interpret the trust deed as a whole and rejected the Revenue's argument on discretionary spending. It ruled in favor of the assessees, emphasizing strict interpretation of deeming provisions and limiting income charge to actual spending for minors' benefit. Case-Laws Income Tax Mon, 28 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19393