Beneficiary not eligible to claim unverified loss suffered by family trust
The Assessee, Smt. Indira Kamineni, is an individual and one of the beneficiaries of a private family trust known as KSN Trust. She filed her return of income for Assessment Year 2018-19 under Section 139(1) of the Income-tax Act, 1961 (‘the Act’) on 30.03.2019, declaring nil total income.