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TMI Blog2007 (5) TMI 190X X X X Extracts X X X X X X X X Extracts X X X X ..... e share of each of the four beneficiaries had been specified by the trust deed itself – Tribunal was right in law in holding that the assessment in the hands of the trust should be framed u/s 161, not as Association of Persons - 50 of 1994 - - - Dated:- 8-5-2007 - SUSHIL HARKAULI and AJAI KUMAR SINGH JJ. JUDGMENT 1. We have heard learned counsel for the Income-tax Department. The assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Family Trust" was created by one Budh Sen by a trust deed dated January 2, 1978. There were four beneficiaries of the trust, namely, Sajeev, Vinay, Rajeev and Shailendra. The shares of the first two of the beneficiaries aforesaid were 20 per cent. each and the shares of the other two beneficiaries were 30 per cent. each. 5. In respect of the same assessee, for the earlier assessment year, ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... determinate. On appeal, the Appellate Assistant Commissioner did not agree with the Assessing Officer's view because, as stated above, the share of each of the four beneficiaries had been specified by the trust deed itself. 7. Thus, the fundamental question was whether the assessment should have been made as an AOP. 8. The concept of AOP is where certain persons constituting that AOP volu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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