https://www.taxtmi.com/caselaws?id=23871 The High Court of BOMBAY ruled in a case concerning the identification of beneficiaries under a trust and the application of tax provisions to trust income. The court determined that the wife of the settlor's son was not a beneficiary during the relevant years, and only the settlor's granddaughters were entitled to the trust income. As the granddaughters had no taxable income, the trust qualified for tax benefits, exempting it from a higher tax rate. The court's interpretation of the trust deed confirmed the beneficiaries and their tax treatment, favoring the assessee in the case. en-us Fri, 22 Sep 1989 00:00:00 +0530 Thu, 14 Jan 2010 18:58:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23871 The High Court of BOMBAY ruled in a case concerning the identification of beneficiaries under a trust and the application of tax provisions to trust income. The court determined that the wife of the settlor's son was not a beneficiary during the relevant years, and only the settlor's granddaughters were entitled to the trust income. As the granddaughters had no taxable income, the trust qualified for tax benefits, exempting it from a higher tax rate. The court's interpretation of the trust deed confirmed the beneficiaries and their tax treatment, favoring the assessee in the case. Case-Laws Income Tax Fri, 22 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23871