During year the year under consideration, assessee, a revocable private trust, purchased units of mutual funds. A notice under section 148 was issued upon assessee for reopening proceedings which was returned unserved.  Thereafter, a show cause notice was issued by Assessing Officer which was also not served/responded by assessee. Accordingly, he made an addition on account of purchase of mutual funds. Commissioner (Appeals) upheld additions. On appeal the Tribunal held that assessee was a revocable trust settled by Mr. Burjor  Hormosiji  and  Mrs Aloo Burjor. It had purchased units of mutual funds and capital gain on mutual funds had already been offered to tax in income tax return of settler.Therefore  income or any source of investment in mutual funds is  taxable in hands of settler and not in hands of assessee trust. Addition is  to be deleted. (AY. 2010-11)