9911796707
TMI Blog2002 (2) TMI 46X X X X Extracts X X X X X X X X Extracts X X X X ..... , 1978-79 to 1982-83 arising out of five appeals (I.T.A. Nos. 1842 to 1846) decided by the Tribunal is ordered to be split up into five references. They are numbered as Income-tax References Nos. 73, 73A, 73B, 73C and 73D of 1987 for the respective years 1978-79 to 1982-83. The Tribunal has referred the following question in these references for the opinion of this court: "Whether, in law an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing trustee of Sharad Family Trust, the beneficiaries of which are the sons of the assessee. According to the Income-tax Officer, the entire business and administration of the trust was being handled by the assessee and the other trustees had no knowledge of the affairs of the trust whatsoever. It was held that the entire income of the trust belonged to the assessee and was brought to tax accordin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the trust. It is pointed out to us that in respect of the earlier assessment years 1975-76 to 1977-78, in the case of the assessee-trust, the Tribunal had referred to the High Court for its opinion in Income-tax Reference No. 63 of 1984 (arising out of Income-tax Appeals Nos. 178 to 180), the question as to whether the income of the assessee-trust was not liable to be included in the individua ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tedly not created by the managing trustee. In this view of the matter, applying the decision of this court in I.T.R. No. 63 of 1984, decided on March 27, 1987, in the case of the assessee-trust, we answer the question referred to the High Court in the above references as under: (i) In Income-tax References Nos. 73, 73A, 73B, 73C and 73D of 1987, we hold that the income of Sharad Family Trust was ..... X X X X Extracts X X X X X X X X Extracts X X X X
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