https://www.taxtmi.com/caselaws?id=24791 The court held that the income from trust funds invested in firms for minor beneficiaries, where the income was to be accumulated and not disbursed during the minors' minority, was not to be included in the father's income under Section 64(1)(vii) of the Income-tax Act. The court emphasized that deferred benefits payable after the trust's termination did not fall within the scope of Section 64(1)(vii), aligning with decisions of various High Courts. The outcome favored the taxpayer, ruling against the Revenue's contention. en-us Fri, 24 Jun 1988 00:00:00 +0530 Fri, 22 Jan 2010 13:45:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24791 The court held that the income from trust funds invested in firms for minor beneficiaries, where the income was to be accumulated and not disbursed during the minors' minority, was not to be included in the father's income under Section 64(1)(vii) of the Income-tax Act. The court emphasized that deferred benefits payable after the trust's termination did not fall within the scope of Section 64(1)(vii), aligning with decisions of various High Courts. The outcome favored the taxpayer, ruling against the Revenue's contention. Case-Laws Income Tax Fri, 24 Jun 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24791