Income from trust properties has to be assessed in the hands of beneficiaries

M/s. Abad Trust Vs Asst. Director of Income tax -Exemption (ITAT Cochin)

The provisions of section 161(1) of the Act are similar to section 2 1(1) and (2) of the Wealth-tax Act. The Supreme Court in CWT v. Trustees of H. E. H. Nizam’s Family (Remainder Wealth) Trust [1977] 108 ITR 555 also held that : “t

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