Trust Recognized as Determinate and Non-Discretionary with Clearly Defined Beneficiaries Since 2007 Formation.

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....Assessee is a revocable trust OR AOP - as the names of the beneficiaries of the assessee trust and their shares were known since inception i.e at the time of the formation of the trust as is evident from the minutes of the meeting dated 27.12.2007, therefore, it can safely be concluded that the assessee trust is a determinate trust i.e a non-discretionary trust. - AT....