https://www.taxtmi.com/caselaws?id=57705 The ITAT upheld the AAC's ruling that the executors had become trustees after completing the tasks outlined in the Will, directing fresh assessments under section 21 of the WT Act due to determinate beneficiaries. The executors' transition into trustees was supported by the language of the Will, which specified the creation of a trust and identified beneficiaries. The appeals were dismissed, confirming the executors' shift into trustees post-administration of the estate, contrary to the Revenue's argument based on incomplete administration. en-us Sat, 07 Feb 1981 00:00:00 +0530 Mon, 13 Dec 2010 11:06:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57705 The ITAT upheld the AAC's ruling that the executors had become trustees after completing the tasks outlined in the Will, directing fresh assessments under section 21 of the WT Act due to determinate beneficiaries. The executors' transition into trustees was supported by the language of the Will, which specified the creation of a trust and identified beneficiaries. The appeals were dismissed, confirming the executors' shift into trustees post-administration of the estate, contrary to the Revenue's argument based on incomplete administration. Case-Laws Wealth-tax Sat, 07 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57705