https://www.taxtmi.com/caselaws?id=291391 Trust income not finally disposed of during the accounting year, and retained by trustees pending a contingency or effective appointment, falls within the proviso to Section 41 of the Income-tax Act, 1922 where it is not specifically receivable on behalf of one person or the beneficiaries' shares are indeterminate or unknown. The proviso was treated as covering both uncertainty as to the beneficiary and uncertainty as to the quantum of each share. On that construction, the income was assessable at the maximum rate because the ultimate recipient and corresponding shares could not be identified with certainty. en-us Tue, 19 Sep 1944 00:00:00 +0630 Mon, 09 Nov 2020 11:09:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291391 Trust income not finally disposed of during the accounting year, and retained by trustees pending a contingency or effective appointment, falls within the proviso to Section 41 of the Income-tax Act, 1922 where it is not specifically receivable on behalf of one person or the beneficiaries' shares are indeterminate or unknown. The proviso was treated as covering both uncertainty as to the beneficiary and uncertainty as to the quantum of each share. On that construction, the income was assessable at the maximum rate because the ultimate recipient and corresponding shares could not be identified with certainty. Case-Laws Income Tax Tue, 19 Sep 1944 00:00:00 +0630 https://www.taxtmi.com/caselaws?id=291391