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2005 (3) TMI 42 - HC - Income Tax"Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the provisions of proviso (ii) to sub-section (1) of section 164 are not applicable in this case?" - It is trite that where a party desires to attack the Tribunal's finding as defective or perverse, a specific question to that effect has to be raised - No such question has been raised here. Secondly, section 164(1) of the Act is attracted and such income is brought to tax at the maximum marginal rate, where the shares of different beneficiaries in the trust are indeterminate or unknown. In the instant case though it is true that four trusts were created under one will in so far as the trust created for the benefit of Poonam was concerned, she was the sole beneficiary. Under these circumstances, the question of aggregation of interest income received for the benefit of one single person for the purpose of section 164(1) of the Act did not arise. - we are in complete agreement with the view taken by the Tribunal
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