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R.M.MEHTA, R.L.SANGANI
Income-tax Officer – Appellant
Versus
K. C. Trust – Respondent


ORDER

R. L. Sangani, Judicial Member - These three appeals, two by the Department and one by the assessee, were hearted together with the consent of the parties and are being decided by this common order.

Income-tax Appeal No. 2410/Ahd/1987; Assessment year 1984-85

1. The assessee is K.C. Trust, Ahmedabad of which the following are the beneficiaries:
  
1. Fakirchand & Sons HUF
10 per cent
2. Fakirchand M. HUF
10 per cent
3. Ahokkumar A. HUF
10 per cent
4. Mahavirprasad A. HUF
10 per cent
5. Mahavirprasad Avishkri Huf
10 per cent
6. Anshulkumar A.
14 per cent
7. Anita w/o Ashokkumar
14 per cent
8. Rajeshkumar Dalipchand
7 per cent
9. Krishorchand F. Trust
15 per cent

It would be seen from the above table that eight beneficiaries are either individuals or HUFs and share of each of those beneficiaries was determinate. The total share of these eight beneficiaries come to 85 per cent. The balance 15 per cent share is in favour of Kishorechand Family Trust which is a discretionary trust. 15 per cent of the income came to Rs. 39,555. On this the ITO charged tax at maximum marginal ra











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