TMI Blog1993 (12) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... led to deduct the tax within time from the interest amount which has been credited to the account of different payees referred to in the complaints and it is alleged that an offence punishable under section 276B, read with section 278B of the said Act, has been committed. Criminal Complaints Nos. 922, 923 and 924 of 1988 are filed, inter alia, alleging that the accused have failed to pay the tax within time after deducting it on June 30, 1985, from the interest amount mentioned in the complaints, credited on June 30, 1985, to the account of the payees referred to in the complaints who are the same persons referred to in the Complaints Nos. 919, 920 and 921 of 1988. These six complaints have been grouped in two different groups wherein for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the income were income received by or accruing to or in favour of him beneficially, and shall be liable to assessment in his own name in respect of that income; but any such assessment shall be deemed to be made upon him in his representative capacity only, and the tax shall, subject to the other provisions contained in this Chapter, be 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. " It is further submitted by the complainants that as petitioner No. 1 is a trust and petitioners Nos. 2 to 4 are the trustees, the trust is an "association of persons" and would mean a "person" as per section 2(31) of the Act. It is also submitted that, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shares, though, for the sake of convenience, there may be only one assessment order specifying separately the tax due in respect of the wealth of each beneficiary. Secondly, the assessment of the trustee would have to be made in the same status as that of the beneficiary whose interest is sought to be taxed in the hands of the trustee. This was recognised and laid down by this court in N. V. Shanmugham and Co. v. CIT [1971] 81 ITR 310 (SC). And, lastly, the amount of tax payable by the trustee would be the same as that payable by each beneficiary in respect of his beneficial interest, if he were assessed directly. Vide Padmavati Jaykrishna Trust v. CWT [1966] 61 ITR 66 at 73, 74 (Guj); Trustees of Putlibai R. F. Mulla Trust v. CWT [1967] 66 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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