https://www.taxtmi.com/caselaws?id=55608 The Tribunal determined that the trust in question was discretionary rather than specific, as the trustees had absolute discretion in distributing income among beneficiaries. The resolution by trustees to distribute income in advance was considered invalid, as beneficiaries and their shares should be determined at the time of distribution. The trust was assessed under section 164 of the Income-tax Act, 1961, applicable to discretionary trusts with indeterminate beneficiaries. The Tribunal ruled in favor of the revenue, concluding that the trust should be assessed under section 164, reversing the AAC's decision. en-us Thu, 27 Oct 1983 00:00:00 +0530 Mon, 29 Nov 2010 09:55:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55608 The Tribunal determined that the trust in question was discretionary rather than specific, as the trustees had absolute discretion in distributing income among beneficiaries. The resolution by trustees to distribute income in advance was considered invalid, as beneficiaries and their shares should be determined at the time of distribution. The trust was assessed under section 164 of the Income-tax Act, 1961, applicable to discretionary trusts with indeterminate beneficiaries. The Tribunal ruled in favor of the revenue, concluding that the trust should be assessed under section 164, reversing the AAC's decision. Case-Laws Income Tax Thu, 27 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55608