https://www.taxtmi.com/caselaws?id=60463 Where trust income or wealth had already been assessed in the hands of the trustee, the same amounts were not to be assessed again in the sole beneficiary's hands for the same assessment years, because the statutory scheme treated assessment of trustee or beneficiary as alternative methods of collection. For the later years, once the trust deed terminated on the beneficiary attaining majority and the property vested absolutely in him, tax liability followed the real ownership of the property. The absence of an earlier formal transfer by the trustees did not prevent inclusion in the beneficiary's assessment after the trust ended. en-us Mon, 26 Mar 1984 00:00:00 +0530 Wed, 05 Jan 2011 13:58:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60463 Where trust income or wealth had already been assessed in the hands of the trustee, the same amounts were not to be assessed again in the sole beneficiary's hands for the same assessment years, because the statutory scheme treated assessment of trustee or beneficiary as alternative methods of collection. For the later years, once the trust deed terminated on the beneficiary attaining majority and the property vested absolutely in him, tax liability followed the real ownership of the property. The absence of an earlier formal transfer by the trustees did not prevent inclusion in the beneficiary's assessment after the trust ended. Case-Laws Income Tax Mon, 26 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60463