Revocable Trust Not Assessed as AOP; Income Taxed on Specific Shareholders' Known Shares, Revenue Appeal Dismissed.

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....Treatment of assessee trust as an Association of Persons (AOP) - Since it was revocable Trust, the provisions of Sec. 61 to 63 were applicable and the assessee could not be assessed as AOP. The income was to be taxed in the hands of the SR holders. Since the respective shares were known since inception, it could not be considered as indeterminate Trust. Finally the appeal of the revenue was dismissed. - AT....