https://www.taxtmi.com/caselaws?id=36486 The court ruled in favor of the assessee in a case involving the inclusion of capital gains from a specific trust in the assessee's total income. The court held that the capital gains should not be taxed in the hands of the beneficiary but in the hands of the trust itself. Additionally, the court confirmed that amounts received from discretionary trusts cannot be taxed in the hands of the beneficiary. The Commissioner was directed to pay the costs of the reference to the assessee. en-us Wed, 20 Sep 1978 00:00:00 +0530 Mon, 22 Mar 2010 15:51:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36486 The court ruled in favor of the assessee in a case involving the inclusion of capital gains from a specific trust in the assessee's total income. The court held that the capital gains should not be taxed in the hands of the beneficiary but in the hands of the trust itself. Additionally, the court confirmed that amounts received from discretionary trusts cannot be taxed in the hands of the beneficiary. The Commissioner was directed to pay the costs of the reference to the assessee. Case-Laws Income Tax Wed, 20 Sep 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36486