https://www.taxtmi.com/caselaws?id=55727 The Tribunal allowed the appeal, confirming that the assessee trust should be assessed as a specific trust under section 161 of the Income-tax Act, 1961. The Explanation to section 164 was found inapplicable as the trust had determinate shares of beneficiaries. The beneficiaries' right to transfer their interest was upheld, and the Tribunal set aside the CIT's order under section 263, maintaining the trust's specific trust status and assessment method by the Income Tax Officer. en-us Fri, 26 Jul 1985 00:00:00 +0530 Mon, 29 Nov 2010 16:50:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55727 The Tribunal allowed the appeal, confirming that the assessee trust should be assessed as a specific trust under section 161 of the Income-tax Act, 1961. The Explanation to section 164 was found inapplicable as the trust had determinate shares of beneficiaries. The beneficiaries' right to transfer their interest was upheld, and the Tribunal set aside the CIT's order under section 263, maintaining the trust's specific trust status and assessment method by the Income Tax Officer. Case-Laws Income Tax Fri, 26 Jul 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55727