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2018 (11) TMI 1806 - AT - Income TaxAssessment of trust - Determinate Trust or indeterminate Trust - Assessment in hands of the beneficiaries - HELD THAT:- Tribunal in the assessee's own case for assessment years 2009-10 and 201011, found that the assessee-trust is a determinate one and beneficiaries are identifiable, therefore, the income of the assesseeFund has to be assessed only in the hands of the beneficiaries. This finding of the Tribunal in the assessee's own case for assessment years 2009-10 and 2010-11 attains finality [2018 (4) TMI 1831 - ITAT CHENNAI]. Assessee has created a trust which was registered and the beneficiaries have been identified by the contribution agreement (PPM) and their shares are also ascertainable with respect to contributions and the units. Assessee’s Trust is a determinate trust and the appeal of the assessee is on this issue is allowed. In respect of interest income irrespective of the fact it was admitted by the beneficiaries or not, a pass through status was given to the assessee. Hence, the entire income of the assessee-Fund has to be assessed only in the hands of the beneficiaries and not in the hands of the assessee-Fund / trust.
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