| COURT: | ITAT Bangalore |
| CORAM: | Jason P. Boaz (AM), N. V. Vasudevan (JM) |
| SECTION(S): | 161(1), 164(1), 2(31), 61, 63 |
| GENRE: | Domestic Tax |
| CATCH WORDS: | AOP, discretionary trust, irrevocable transfer, revocable transfer, Specific trust |
| COUNSEL: | S.E. Dastur |
| DATE: | October 17, 2014 (Date of pronouncement) |
| DATE: | October 18, 2014 (Date of publication) |
| AY: | 2008-09 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| Entire law on taxation of private specific/ discretionary trusts under revocable & irrevocable transfers and AOPs explained | |
(i) Private Trusts could be Fixed or Discretionary Trusts. A fixed trust is a trust in which the beneficiaries have a current fixed entitlement to such income as remains after proper exercise of the trustee’s powers. On the other hand, …
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