2001 (11) TMI 23

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....erred to us in respect of the assessment years 1987-88 and 1988-89 is, "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in directing the Assessing Officer to allow deduction under section 80C as claimed by the assessee?" The managing trustee of the trust, by name, Manilal Bapalal Family Benefit Trust, filed returns on behalf of the minor, Ma....

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....ision regarding another beneficiary from the same trust. In the circumstances, the above question has been referred. A similar question has been decided by this court in the case of CIT v. Venu Suresh Sanjay Trust [1996] 221 ITR 649, in favour of the assessee and against the Revenue, where this court held that: "A discretionary trust is obviously not a Hindu undivided family nor an associati....