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't o/o 2O.O7,2O11
Present: Mr. Kamal Sawhney, Sr. Standing Counsel
#A-2 with Mr. Amit
A. for the appellant.
+ ITA No.86U2O11 with CM No.L253O/2O1L (exemption)
*
It is not in dispute that respondent is a trust though created as a family trust for the benefit of family members. lt is also not in dispute that the shares of beneficiaries are determined and specified in the Trust Deed particulars whereof are reflected in para
2 of the order of the Tribunal. Another admitted fact is that the trust is not doing any business. There is only one residential property which is let out and the trust is in earning of rental income therefrom which is distributed among the beneficiaries in accordance with their respective shares stipulated in the Trust
Deed. In these circumstances, the Tribunal was right in holding that it cannot be treated as association of persons and the provisions of
Section 167-B of the lncome Tax Act were not applicable.
No ground to interfere with the order of the Tribunal. The
! appeal is hereby dismissed. f ufy 20,?OLT awanish fwfi.
-affir,r.
,/>
2t\<41, ' M.L.MEHTA, J.
2011:DHC:14702-DB
Present: Mr. Kamal Sawhney, Sr. Standing Counsel
#A-2 with Mr. Amit
A. for the appellant.
+ ITA No.86U2O11 with CM No.L253O/2O1L (exemption)
*
It is not in dispute that respondent is a trust though created as a family trust for the benefit of family members. lt is also not in dispute that the shares of beneficiaries are determined and specified in the Trust Deed particulars whereof are reflected in para
2 of the order of the Tribunal. Another admitted fact is that the trust is not doing any business. There is only one residential property which is let out and the trust is in earning of rental income therefrom which is distributed among the beneficiaries in accordance with their respective shares stipulated in the Trust
Deed. In these circumstances, the Tribunal was right in holding that it cannot be treated as association of persons and the provisions of
Section 167-B of the lncome Tax Act were not applicable.
No ground to interfere with the order of the Tribunal. The
! appeal is hereby dismissed. f ufy 20,?OLT awanish fwfi.
-affir,r.
,/>
2t\<41, ' M.L.MEHTA, J.
2011:DHC:14702-DB
JUDGMENT