2004 (7) TMI 53

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....referred against the order of the Income-tax Appellate Tribunal, Madras Bench "A", dated September 12, 2003, in I.T.A. No. 2285 of 1996. The following substantial question of law is raised for consideration: "Whether on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in holding that the Assessing Officer was not correct in assessing the assessee-trust....

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....ncome-tax was completed under section 143(3) on March 26, 1990. Aggrieved by the order of the Assessing Officer, the assessee filed an appeal before the Commissioner of Income-tax (Appeals), who, following the decision of the Income-tax Appellate Tribunal in the case of ERS Trust, Salem, wherein an identical issue was involved, held that the trust income could be assessed only in the hands of t....

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....ct, 1961, the tax shall be levied upon and recovered from a trustee in like manner and to the same extent as it would be leviable upon and recoverable from the person represented by him. In other words, income which comes to the share of a beneficiary has to be assessed as if it were the income of the beneficiary, and tax has to be levied accordingly. Section 161(1) makes no distinction between th....