| Citation(s) |
|---|
| 1998 SLG 469 1998 SLD 469 1998 PTD 3535 (1998) 231 ITR 528 |
Supreme Court of India
Civil Appeal No.5194 of 1996, decision dated: 21st March, 1996
N. P. SINGH AND S. C. SEN, JJ
J. Ramamurthy, Senior Advocate-(B.S. Ahuja and P. Parmeswaran, Advocates with him) for Appellant. P.H. Parekh and Ms. Bind Gupta, Advocates for
Respondent
Civil Appeal No.5194 of 1996, decision dated: 21st March, 1996
N. P. SINGH AND S. C. SEN, JJ
J. Ramamurthy, Senior Advocate-(B.S. Ahuja and P. Parmeswaran, Advocates with him) for Appellant. P.H. Parekh and Ms. Bind Gupta, Advocates for
Respondent
COMMISSIONER OF IncomE tax
VS
AMBALAL SARABHAI D. TRUST
Law: Income Tax Act, 1961
Section: 161,164,256
Income-tax---Reference---Representative assessee---Trust---Discretionary trust--¬Whether trustees resolution to pay income to one beneficiary will alter character of trust---Whether assessment on trust at flat rate of 65 per cent, justified---High Court to examine questions in light of 209 ITR 101---Indian Income Tax Act, 1961, Ss. 161, 164 & 256. Against the of the High Court refusing to call for a reference of the questions whether the trustees resolution to pay the income of the assessee-trust to one beneficiary would alter the character of the discretionary trust and whether the assessment, at a flat rate of 65 per cent. under section 164…
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