Rajasthan Court July 1999 Judgments

Assistant Commissioner of Income Tax Vs. Ajay Vijay Traders

Court: Rajasthan

Reported in: (2001)167CTR(Raj)186

ORDERBy the court Heard the learned counsel for the appellant.2. In our view, no substantial question of law arises for consideration less a question of law. In para. 6 of the impugned order, the Tribunal has stated thus :'The undisputed fact of these appeals are that this trust was created by Shri Ghanshyamdas vide Trust Deed dated 12-4-1982, for the benefit of the children of his sister Smt. Bhagwanti Bai. The assessing officer, in his order, admitted that shares of the beneficiaries are specific and determined. He also admitted that the trustees are representatives of the assessees of the beneficiaries. Even then he invoked the provisions of section 161(1A) and according to him, these amended provisions are applicable to the facts of this case. He, therefore, by applying the marginal rate of tax, assessed the total income of the trust in the hands of the appellant-firm. In this connection, decision of the Apex Court in the case of CWT v. Trustees of H.E H. Nizams family Trust : [197...