2001 (11) TMI 23

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..... ed family nor an association of persons contemplated by that section. Therefore, such a trust would become entitled to the deductions provided it can be regarded as an individual. The term, 'individual' as used in the Income-tax Act does not mean a single living human being but would include in its ambit, a body of individuals constituting a unit for the purposes of the Act. Even though the assess .....

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..... ssessing Officer to allow deduction under section 80C as claimed by the assessee?" The managing trustee of the trust, by name, Manilal Bapalal Family Benefit Trust, filed returns on behalf of the minor, Master Saurin Zaveri, as one of the beneficiaries for the assessment years 1987-88 and 1988-89 disclosing the beneficiary's share from the trust. The managing trustee claimed deduction under sec .....

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..... nu Suresh Sanjay Trust [1996] 221 ITR 649, in favour of the assessee and against the Revenue, where this court held that: "A discretionary trust is obviously not a Hindu undivided family nor an association of persons contemplated by that section. Therefore, such a trust would become entitled to the deductions provided it can be regarded as an individual. The term, 'individual' as used in the Inc .....

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