1994 (10) TMI 58

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..... these cases is whether the trust was liable to be assessed under section 164(1) treating the shares of the beneficiaries as indeterminate or unknown or whether it was liable to be assessed under section 160(1) treating the shares of the beneficiaries as determinate or known. The trust deed in question is dated May 22, 1972. We construed the provisions of the deed of trust in our judgment in Income .....

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..... 160(1) as held by the Tribunal and not under section 164(1) of the Income-tax Act, 1961. The decision in Income-tax (?) Reference No. 143 of 1985 and related matters squarely applies to the facts of these cases. If there is no referable question of law the petitions entail dismissal. Counsel for the Revenue had a further submission based on Explanation 1 to section 164(1). The contention was tha .....

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