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1962 (1) TMI 13 - SC - Income TaxWhether the sum of ₹ 410 is properly includible in the assessee's total income either in accordance with the provisions of section 16(3)(b) and/or section 16(3)(a)(iv) of the Indian Income-tax Act, 1922 ? Whether the sum of ₹ 14,170 is properly includible in the total income of the assessee as the sole beneficiary thereof under the trust settlement made on 1-12-1941 by Dhanji Devsi ? Held that:- On a true construction of clause (b) of sub-section (3) of section 16, the view expressed by the High Court was correct and the sum of ₹ 410 did not form part of the total income of the assessee. The High Court correctly answered the first question referred to it. In respect of the sum of ₹ 14,170 the assessee was a trustee, within the meaning of section 41 of the Income-tax Act, appointed under a trust declared by a duly executed instrument in writing and as such trustee he had the right to contend that his assessment in respect of the money received by him not as a beneficiary but as a trustee could only be made under the first proviso to section 41(1). We have, therefore, come to the conclusion that on the second question also the answer given by the High Court was correct. Appeal dismissed.
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