https://www.taxtmi.com/caselaws?id=419528 A trust with identifiable beneficiaries and fixed shares from inception was treated as a determinate, non-discretionary revocable trust, because the deed preserved a real right of revocation. On those facts, the arrangement was not assessed as an Association of Persons merely because income passed through the trust. Applying the provisions governing revocable transfers, the income was held taxable in the hands of the contributors rather than in the hands of the trust. en-us Fri, 11 Mar 2022 00:00:00 +0530 Mon, 14 Mar 2022 07:47:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419528 A trust with identifiable beneficiaries and fixed shares from inception was treated as a determinate, non-discretionary revocable trust, because the deed preserved a real right of revocation. On those facts, the arrangement was not assessed as an Association of Persons merely because income passed through the trust. Applying the provisions governing revocable transfers, the income was held taxable in the hands of the contributors rather than in the hands of the trust. Case-Laws Income Tax Fri, 11 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419528