https://www.taxtmi.com/caselaws?id=57737 The tribunal held that the loss incurred by the trust cannot be claimed by the beneficiary for set-off purposes. The assessment procedures for trusts and beneficiaries are distinct, and once an election is made, the consequences must follow accordingly. The appeal was dismissed, affirming the decision of the Appellate Assistant Commissioner and Income Tax Officer regarding the computation of the minor beneficiary's income in the Sulochana Family Trust. en-us Wed, 11 Jan 1989 00:00:00 +0530 Mon, 13 Dec 2010 12:02:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57737 The tribunal held that the loss incurred by the trust cannot be claimed by the beneficiary for set-off purposes. The assessment procedures for trusts and beneficiaries are distinct, and once an election is made, the consequences must follow accordingly. The appeal was dismissed, affirming the decision of the Appellate Assistant Commissioner and Income Tax Officer regarding the computation of the minor beneficiary's income in the Sulochana Family Trust. Case-Laws Income Tax Wed, 11 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57737