Supreme Court · 2014 INSC 277 · Decided 16 April 2014
Commissioner of Wealth Tax, Rajkot v. Estate of Late HMM Vikramsinhji of Gondal
- Court
- Supreme Court of India
- Citation
- 2014 INSC 277 · [2014] 9 S.C.R. 1
- Case number
- CIVIL APPEAL No. 2312/2007
- Decided
- 16 April 2014
- Bench
- RAJENDRA MAL LODHA, SHIVA KIRTI SINGH (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
Income Tax Act, 1961/Wealth Tax Act - Income from Foreign Trust - Tax liability of the sett/or of the Trust - Held: A B In view of the facts of the case, the character of the trust is C discretionary and not specific - The discretionary trust gives discretion to the trustee to of the tn1st to trust-beneficiaries - But if the trustees fail to distribute in due time, the power to distribute is not extinguished - In the present case, merely because the income has been retained' D and not disbursed to the beneficiaries because th?J seWor failed to appoint the discretion
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