https://www.taxtmi.com/caselaws?id=22878 Where a trust has determinate and ascertainable beneficiary shares, its income must be assessed in the same manner and to the same extent as it would be in the hands of the beneficiaries. The fact that the trust carries on business does not, by itself, justify assessment of the trustees as a separate body of individuals. The beneficiaries' minority was treated as immaterial, and did not affect the assessment principle. On this reasoning, assessment in the status of a body of individuals was not justified, and the impugned assessment treatment was set aside. en-us Tue, 31 Jul 1990 00:00:00 +0530 Tue, 15 Dec 2009 11:08:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22878 Where a trust has determinate and ascertainable beneficiary shares, its income must be assessed in the same manner and to the same extent as it would be in the hands of the beneficiaries. The fact that the trust carries on business does not, by itself, justify assessment of the trustees as a separate body of individuals. The beneficiaries' minority was treated as immaterial, and did not affect the assessment principle. On this reasoning, assessment in the status of a body of individuals was not justified, and the impugned assessment treatment was set aside. Case-Laws Income Tax Tue, 31 Jul 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22878