https://www.taxtmi.com/caselaws?id=28198 Where the beneficiaries of a wakf trust are known and their shares are fixed and determinate, assessment of the trustee is to be made under section 21(1) of the Wealth-tax Act, 1957, in the same status as the beneficiaries, with separate assessments corresponding to each beneficiary. On the deed's terms, the remaining income was to be divided equally among five sons after specified expenses, so the trust fell within section 21(1) and not section 21(4). The Revenue's contrary contention failed, and the assessments were upheld under section 21(1). en-us Mon, 10 Jan 1983 00:00:00 +0530 Fri, 19 Feb 2010 15:55:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28198 Where the beneficiaries of a wakf trust are known and their shares are fixed and determinate, assessment of the trustee is to be made under section 21(1) of the Wealth-tax Act, 1957, in the same status as the beneficiaries, with separate assessments corresponding to each beneficiary. On the deed's terms, the remaining income was to be divided equally among five sons after specified expenses, so the trust fell within section 21(1) and not section 21(4). The Revenue's contrary contention failed, and the assessments were upheld under section 21(1). Case-Laws Wealth-tax Mon, 10 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28198