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TMI Blog2003 (3) TMI 12X X X X Extracts X X X X X X X X Extracts X X X X ..... ustee of the income and the sale proceeds for her daughters. As a trustee appointed under a testamentary instrument, she would become a representative assessee under section 160(1)(iv) and, as such, is deemed to be an assessee for the purposes of section 160(2) - question referred is, therefore, answered by holding that the assessment is to be made on the assessee as a representative assessee for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see, the late S. A. Pereira, who, in his will dated September 11, 1979, dealt with that property thus: "Regarding my house property at Quilon in survey No. 11005 in Uliyakoil Village, Quilon Taluk, Quilon District, Kerala State, I bequeath the same to my daughter. The income or sale proceeds of the said property have to be utilised for the education and marriage of my grand children. The balance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see's claim that the property did not belong to her, but belonged to her four daughters and that any assessment of the capital gain will have to be in their hands. The capital gain was determined by the Assessing Officer at Rs. 1,88,466 after deducting from the purchase price, the cost of acquisition of Rs. 18,000 and the deductions allowed under section 80T which was then on the statute book. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e which resulted in her becoming the legal owner of the property. If the assessee is regarded as a trustee for her daughters in view of the charge created on the property in favour of the assessee's daughters for their education and marriage expenses, even then, the assessee would still be liable, as she would become a representative assessee as a trustee appointed under a testamentary instrument ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e that of a trustee of the income and the sale proceeds for her daughters. As a trustee appointed under a testamentary instrument, she would become a representative assessee under section 160(1)(iv) of the Act and, as such, is deemed to be an assessee for the purposes of section 160(2) of the Act. The question referred is, therefore, answered by holding that the assessment is to be made on the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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