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TMI Blog1989 (3) TMI 4X X X X Extracts X X X X X X X X Extracts X X X X ..... urther scrutiny, he discovered that substantial debits totalling Rs. 2,19,804 included withdrawals from the estate account by the Ahmedabad trust on account of the personal expenses of the assessee. After taking into consideration earlier withdrawals from the estate account by the Ahmedabad trust for the purpose of investment and making adjustments for deposits during the year, the Income-tax Officer concluded that the net withdrawals from the estate account for personal expenditure were Rs. 3,10,806. He held that the proportionate interest of Rs. 6,199 out of the total interest of Rs. 10,880 paid by the Ahmedabad trust to the estate account was referable to such withdrawals, and, therefore, constituted an inadmissible deduction. Similarly, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cumstances of the case, the income includible in the total income of the assessee is income determinable as per provisions of the Income-tax Act, 1961, in the case of the trust or the income receivable by the assessee from the said trust ?" The question referred to the High Court for assessment year 1966-67 was [1976] 102 ITR 356, 359): "Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that out of the interest payment of Rs. 25,496, Rs. 12,833 was not an admissible deduction against the income from other sources?" The High Court held that the question relating to the disallowance of part of the interest for the two assessment years was rightly decided against the assessee and in favour of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee, that is to say a trustee, as regards the income in respect of which he is a representative assessee, is subject to the same duties, responsibilities and liabilities as if the income were income received by or accruing to or in favour of him beneficially, and he is liable to assessment in his own name in respect of that income ; but any such assessment is deemed to be made upon him in his representative capacity only, and the tax is levied upon and recovered from him in like manner and to the same extent as it would be leviable upon and recoverable from the person represented by him. And section 166 of the Act clarifies that the provisions relating to the liability of a representative assessee will not prevent either the direct ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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