https://www.taxtmi.com/caselaws?id=56324 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision allowing a private discretionary trust a deduction of Rs. 3000 under Section 80L of the Income Tax Act, 1961. It determined that trustees of discretionary trusts could be treated as 'individuals' for tax purposes, entitling them to deductions similar to beneficiaries. The Tribunal dismissed the Revenue's appeal, citing consistent views from various benches and emphasizing the strict construction of deeming provisions. en-us Wed, 15 Jun 1988 00:00:00 +0530 Fri, 03 Dec 2010 10:53:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56324 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision allowing a private discretionary trust a deduction of Rs. 3000 under Section 80L of the Income Tax Act, 1961. It determined that trustees of discretionary trusts could be treated as 'individuals' for tax purposes, entitling them to deductions similar to beneficiaries. The Tribunal dismissed the Revenue's appeal, citing consistent views from various benches and emphasizing the strict construction of deeming provisions. Case-Laws Income Tax Wed, 15 Jun 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56324