https://www.taxtmi.com/caselaws?id=39760 Section 16(3)(b) of the Indian Income-tax Act, 1922 was applied only where the minor derived a present benefit in the relevant accounting year through receipt of income, accrual of income, or an existing beneficial interest. Mere accumulation of trust income until majority did not create such a present interest. A trustee's discretionary power to use income for maintenance, education or other benefit was insufficient where no part of the income was shown to have been applied and the minor could not compel exercise of the discretion. A contingent provision for betrothal or marriage expenses also gave no present benefit in the years in question. On that construction, the trust income was not includible in the settlor's total income. en-us Wed, 10 Jul 1974 00:00:00 +0530 Tue, 20 Apr 2010 11:46:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39760 Section 16(3)(b) of the Indian Income-tax Act, 1922 was applied only where the minor derived a present benefit in the relevant accounting year through receipt of income, accrual of income, or an existing beneficial interest. Mere accumulation of trust income until majority did not create such a present interest. A trustee's discretionary power to use income for maintenance, education or other benefit was insufficient where no part of the income was shown to have been applied and the minor could not compel exercise of the discretion. A contingent provision for betrothal or marriage expenses also gave no present benefit in the years in question. On that construction, the trust income was not includible in the settlor's total income. Case-Laws Income Tax Wed, 10 Jul 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39760