https://www.taxtmi.com/caselaws?id=57675 The appellate tribunal ruled in favor of the non-resident assessee in eleven appeals concerning tax treatment of income received as a beneficiary under a Will. The tribunal determined the assessee's entitlement as a beneficiary under the trust, rejecting the Income Tax Officer's contention that the amount received was an annuity under the Will. It emphasized the assessee's receipt of payments from the trust income, preventing double taxation. The tribunal applied section 165 of the IT Act to apportion taxable income between chargeable and non-chargeable trust income, directing a reassessment based on fair taxation principles. en-us Mon, 10 Jul 1978 00:00:00 +0530 Sat, 11 Dec 2010 14:50:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57675 The appellate tribunal ruled in favor of the non-resident assessee in eleven appeals concerning tax treatment of income received as a beneficiary under a Will. The tribunal determined the assessee's entitlement as a beneficiary under the trust, rejecting the Income Tax Officer's contention that the amount received was an annuity under the Will. It emphasized the assessee's receipt of payments from the trust income, preventing double taxation. The tribunal applied section 165 of the IT Act to apportion taxable income between chargeable and non-chargeable trust income, directing a reassessment based on fair taxation principles. Case-Laws Income Tax Mon, 10 Jul 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57675