Section 164(1)(iii) in The Income Tax Act, 1961

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Union of India - Subsection

Section 164(1)(iii) in The Income Tax Act, 1961

(iii)[ the relevant income or part of relevant income is receivable under a trust created before the 1st day of March, 1970, by a non-testamentary instrument and the ] [ Restored by Act 3 of 1989, Section 95 (w.e.f. 1.4.1989).][Assessing Officer] [ Substituted by Act 4 of 1988, Section 2, for " Income-tax Officer" (w.e.f. 1.4.1988).][is satisfied, having regard to all the circumstances existing at the relevant time, that the trust was created bona fide exclusively for the benefit of the relatives of the settlor, or where the settlor is a Hindu undivided family, exclusively for the benefit of the members of such family, in circumstances where such relatives or members were mainly dependent on the settlor for their support and maintenance; or [ Restored by Act 3 of 1989, Section 95 (w.e.f. 1.4.1989).]

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Union of India - Subsection

Section 164(1)(iii) in The Income Tax Act, 1961