https://www.taxtmi.com/caselaws?id=49474 Income from a trust for a minor child was not attributable to the settlor under section 16(3)(b) of the Indian Income-tax Act, 1922 where the child had no present right, no beneficial interest, and no income for the relevant accounting year; the anti-avoidance provision was read to tax only income that accrued to or benefited the minor in that year. Income received under an earlier trust deed for the maintenance of a person, his wife and children was treated as trust income, not the recipient's personal income, because the deed created a binding trust with multiple beneficiaries and indeterminate shares; assessment had to proceed under the trustee machinery. The later language of section 64(v) of the 1961 Act was not treated as declaratory of the earlier law. en-us Wed, 31 Jan 1962 00:00:00 +0530 Wed, 27 Aug 2014 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49474 Income from a trust for a minor child was not attributable to the settlor under section 16(3)(b) of the Indian Income-tax Act, 1922 where the child had no present right, no beneficial interest, and no income for the relevant accounting year; the anti-avoidance provision was read to tax only income that accrued to or benefited the minor in that year. Income received under an earlier trust deed for the maintenance of a person, his wife and children was treated as trust income, not the recipient's personal income, because the deed created a binding trust with multiple beneficiaries and indeterminate shares; assessment had to proceed under the trustee machinery. The later language of section 64(v) of the 1961 Act was not treated as declaratory of the earlier law. Case-Laws Income Tax Wed, 31 Jan 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49474