1971 (10) TMI 18 - HC - Income Tax

Mysore Agricultural Income Tax Act - whether trustees appointed by will can be treated as appointed by written agreement held that section 10(1)(a) according to which written agreement must be read as a written instrument is applicable to a trustee appointed under a will

Summary

The High Court of Karnataka allowed the revision petition of the assessee under section 55 of the Mysore Agricultural Income-tax Act, 1957. The court held that the trustee appointed under a will is entitled to the benefits of section 10(1)(a) of the Act, which should be read as "written instrument" instead of "written agreement." The matter was remitted back to the Tribunal for fresh disposal.