TMI Blog1992 (1) TMI 151X X X X Extracts X X X X X X X X Extracts X X X X ..... the time prescribed for filling the appeal, but somehow there was miscarriage in transit and when redirected to the Tribunal delay of 14 days had occurred. This is found to be supported by material on record. The departmental representative has no objection in admitting the cross-objection. The delay is condoned and the cross objection is entertained. 2. The point at dispute is whether a valid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment of Sri Reddiar on protective measure subjecting the transfer to the trust as eligible to gift-tax. The assessments of the beneficiaries also were completed as seen from the copies of some of the assessment orders furnished before us. They were not on protective basis. Still later, the ITO passed the impugned assessment order dt. 21st March, 1986 taking the status of the family trust ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he computation of the income of the trust and granted some relief against the disallowance made by the ITO. The Revenue is on appeal and the assessee is on cross objection. 3. In the cross objection the assessee's contention is that the status of the trust cannot be taken as that of an AOP. Its object is well-taken and is supported by the decision of the Tribunal Hyderabad Bench 'B' (Special Be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -86. For the impugned assessment year, s. 161(1) will apply and tax has to be levied and recovered from the trustees in like manner and to the same extent as it would be leviable upon and recoverable from the person represented by him. We upheld the reasoning of the CIT(A) in so far as the validity and the genuineness of the trust is concerned. Already the ITO has levied the taxes in the hands of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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