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2009 (4) TMI 38 - HC - Income TaxWhether Tribunal was right in holding that in the case of the assessee-Trust, the beneficiaries and their shares are determinate and, therefore, the trustees could not be assessed for tax and the provisions of section 164 of the Income Tax Act are not attracted – Having regard to the terms contained in the trust deed that shares of the beneficiaries in a given particular accounting year are specific and determinable in the ratio, as provided, it could not be said that the beneficiaries are not identifiable on the date of the Trust deed and the share of the beneficiaries were unknown, there is no infirmity in decision of Tribunal – above question of law has necessarily to be answered in favour of the assessee and against the revenue
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