https://www.taxtmi.com/caselaws?id=58505 The Tribunal held that the trustees of Aarti Trust should be assessed as beneficiaries under Section 161, not as an Association of Persons under Section 164. The beneficiaries' shares were definite and determinate, warranting assessment directly on them. The Tribunal allowed the appeal in part, directing assessments under Section 161 on the beneficiaries' known shares and dismissing the disallowed expenses issue as moot. The CIT(A) was deemed unjustified in upholding the ITO's order, leading to a favorable outcome for the appellant. en-us Thu, 30 Jul 1987 00:00:00 +0530 Mon, 20 Dec 2010 12:48:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58505 The Tribunal held that the trustees of Aarti Trust should be assessed as beneficiaries under Section 161, not as an Association of Persons under Section 164. The beneficiaries' shares were definite and determinate, warranting assessment directly on them. The Tribunal allowed the appeal in part, directing assessments under Section 161 on the beneficiaries' known shares and dismissing the disallowed expenses issue as moot. The CIT(A) was deemed unjustified in upholding the ITO's order, leading to a favorable outcome for the appellant. Case-Laws Income Tax Thu, 30 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58505