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2003 (3) TMI 39 - HC - Income TaxIncome from the trust properties - "Whether, on the facts and in the circumstances of the case and also in view of the provision contained in section 161(1A) of the Income-tax Act, the Tribunal is right in law and fact in holding that the income from the trust properties has to be assessed in the hands of the beneficiaries?" - two appellate authorities have already found that the building is owned by the trust and the shares of the beneficiaries are certain. It was also held that all the beneficiaries or co-owners of the property have a definite share in the property – Thus there is not infirmity in tribunal’s order
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