https://www.taxtmi.com/caselaws?id=28677 The court held that the income from the properties should not be taxed in the hands of the executors as a single unit under Section 168 of the Income-tax Act. It was determined that the shares of the beneficiaries were known and determinate, making Section 164 inapplicable. The income from the hotel business and property at Sunkurama Chetty Street should be taxed in the hands of the trustees. Sections 160(1)(iv) and 161(1) were found applicable for tax liability determination. Additionally, the annuity deposit refund, interest, and dividends were not taxable in the assessee's hands. The Revenue's appeal was dismissed, and the assessee was awarded costs. en-us Mon, 07 Feb 1983 00:00:00 +0530 Wed, 24 Feb 2010 17:15:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28677 The court held that the income from the properties should not be taxed in the hands of the executors as a single unit under Section 168 of the Income-tax Act. It was determined that the shares of the beneficiaries were known and determinate, making Section 164 inapplicable. The income from the hotel business and property at Sunkurama Chetty Street should be taxed in the hands of the trustees. Sections 160(1)(iv) and 161(1) were found applicable for tax liability determination. Additionally, the annuity deposit refund, interest, and dividends were not taxable in the assessee's hands. The Revenue's appeal was dismissed, and the assessee was awarded costs. Case-Laws Income Tax Mon, 07 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28677