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TMI BlogSubstitution of new Section for Section 164X X X X Extracts X X X X X X X X Extracts X X X X ..... ions of sub-sections (2) and (3), where any income in respect of which the persons mentioned in clause (iii) and (iv) of sub-section (1) of section 160 are liable as representative assessees or any part thereof is not specifically receivable on behalf or for the benefit of any one person or where the individual shares of the persons on whose behalf or for whose benefit such income or such part the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by a non-testamentary instrument and the Income-tax Officer is satisfied, having regard to all the circumstances existing at the relevant time, that the trust was created bona fide exclusively for the benefit of the relatives of the settler, or where the settler is a Hindu undivided family, exclusively for the benefit of the members of such family, in circumstances where such relatives or members ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (3) In a case where the relevant income is derived from property held under trust in part only for charitable or religious purposes and either the relevant income applicable to purposes other than charitable or religious purposes (or any part thereof) is not specifically receivable on behalf of any on person or the individual shares of the beneficiaries in the income so applicable are indetermina ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nknown, at the rate of sixty-five per cent., whichever course would be more beneficial to the revenue : Provided that in a case where - (i) none of the beneficiaries in respect of the part relevant income which is not applicable to charitable or religious purposes has any other income chargeable under this Act; or (ii) the relevant income is receivable under a trust declared by will; or (iii) the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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