Trust receiving donations on behalf of beneficiaries treated as representative assessee and taxed as an individual

INCOME TAX : Where trustees of assessee-discretionary trust were appointed under Deed of Trust to benefit members of owner group and senior leader group of Shriram Group who were identified as beneficiaries and all six concerns who contributed Rs. 25 Crores formed part of Shriram Group, in view of fact that donation which was given to Trust were for benefit of persons occupying high positions in Shriram Group would clearly show that assessee received donation on behalf of beneficiaries who had bINCOME TAX : Where trustees of assessee-discretionary trust were appointed under Deed of Trust to benefit members of owner group and senior leader group of Shriram Group who were identified as beneficiaries and all six concerns who contributed Rs. 25 Crores formed part of Shriram Group, in view of fact that donation which was given to Trust were for benefit of persons occupying high positions in Shriram Group would clearly show that assessee received donation on behalf of beneficiaries who had bwww.taxmann.com Latest Case LawsRead More

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