2006 (7) TMI 170

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....ar, learned senior counsel, who was earlier representing the interest of the assessee, had informed on July 24, 2006, that he would not be appearing in the matter. The assessee Mr. Abdulgafur A. Mistry had acknowledged the fact that Mr. Soparkar would not be appearing and that the court be requested to dispose of the matter in accordance with law. The letter of Mr. Soparkar along with the lette....

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....stry. The other partner in the said firm was Smt. Sakuranbibi, mother of the assessee. On March 15, 1977, the said Sakuranbibi executed a will whereunder she bequeathed certain ornaments belonging to her in favour of three minor children of the assessee and one minor child of the assessee's brother-Sallaudin. All the four children, in fact, are grand children of Smt. Sakuranbibi. It was also obser....

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....nts of each child. Smt. Zubedabibi accordingly went on doing so. In the matter of income-tax, when the matter came before the Assessing Officer, he held that as trust was created in favour of the minors, the assessee was answerable. The Income-tax Appellate Tribunal, after going through the provisions of the will, observed that the words, trustee, executor and guardian, have been used as synonyms ....