https://www.taxtmi.com/caselaws?id=22875 HC held that beneficiaries of the trust could not be treated as an "association of persons" or "body of individuals" for income-tax purposes, as they had neither come together nor authorized the trustees to carry on business, and were merely recipients of trust income. The trustees derived authority solely from the settlor under the trust deed, not from the beneficiaries, and thus could not assume the character of an association of persons. Consequently, the trust's business income was liable to assessment in the hands of the trustees strictly under section 161(1) of the Income-tax Act, as representative assessees, and no referable question of law arose for consideration. en-us Tue, 24 Jul 1990 00:00:00 +0530 Thu, 04 Dec 2025 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22875 HC held that beneficiaries of the trust could not be treated as an "association of persons" or "body of individuals" for income-tax purposes, as they had neither come together nor authorized the trustees to carry on business, and were merely recipients of trust income. The trustees derived authority solely from the settlor under the trust deed, not from the beneficiaries, and thus could not assume the character of an association of persons. Consequently, the trust's business income was liable to assessment in the hands of the trustees strictly under section 161(1) of the Income-tax Act, as representative assessees, and no referable question of law arose for consideration. Case-Laws Income Tax Tue, 24 Jul 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22875