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1981 (9) TMI 98 - BOMBAY HIGH COURTExtract: ....... trustees. The two questions are accordingly answered as follows. Questions Nos.1 and 2-The entire income was assessable in the hands of the trust, and no part thereof was assessable in the hands of the beneficiary. The answer will apply to all the assessment years under consideration. The Commissioner to pay costs of the reference to the assessee.
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