https://www.taxtmi.com/caselaws?id=38323 A trust deed that names the beneficiaries and fixes their entitlement in equal shares does not create indeterminate or unknown interests merely because trustees may decide whether to distribute income in a particular year. The distinction is between the legal share in the trust income and the amount actually distributed in any year; discretionary non-distribution does not make the shares uncertain. Applying the settled interpretation of the analogous earlier provision, the Calcutta HC stated that the taxing rule for uncertain beneficiary interests applies only where income is not specifically receivable on behalf of any one person or where the shares themselves are uncertain. Section 164 of the Income-tax Act, 1961 was therefore not attracted. en-us Wed, 30 Nov 1977 00:00:00 +0530 Mon, 05 Apr 2010 14:02:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38323 A trust deed that names the beneficiaries and fixes their entitlement in equal shares does not create indeterminate or unknown interests merely because trustees may decide whether to distribute income in a particular year. The distinction is between the legal share in the trust income and the amount actually distributed in any year; discretionary non-distribution does not make the shares uncertain. Applying the settled interpretation of the analogous earlier provision, the Calcutta HC stated that the taxing rule for uncertain beneficiary interests applies only where income is not specifically receivable on behalf of any one person or where the shares themselves are uncertain. Section 164 of the Income-tax Act, 1961 was therefore not attracted. Case-Laws Income Tax Wed, 30 Nov 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38323