https://www.taxtmi.com/caselaws?id=19703 The court held that a discretionary trust is entitled to deductions under section 80L of the Income-tax Act. The trust, treated as an individual for assessment purposes, was deemed eligible for the same exemptions and benefits as individuals and Hindu undivided families. The court emphasized that the status of trustees should be considered as individuals for assessment, aligning with previous judicial interpretations. The decision favored the assessee, ruling that trustees of a discretionary trust should be assessed as individuals, entitling them to deductions under section 80L. The outcome was in favor of the assessee, with no costs awarded. en-us Fri, 10 Dec 1993 00:00:00 +0530 Mon, 09 Nov 2009 11:09:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19703 The court held that a discretionary trust is entitled to deductions under section 80L of the Income-tax Act. The trust, treated as an individual for assessment purposes, was deemed eligible for the same exemptions and benefits as individuals and Hindu undivided families. The court emphasized that the status of trustees should be considered as individuals for assessment, aligning with previous judicial interpretations. The decision favored the assessee, ruling that trustees of a discretionary trust should be assessed as individuals, entitling them to deductions under section 80L. The outcome was in favor of the assessee, with no costs awarded. Case-Laws Income Tax Fri, 10 Dec 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19703