Higher tax rates for HUFs require departmental review and correction of past assessments and recording of review. The Board directs supervisory staff to review tax calculations for assessment year 1974-75 and subsequent years to identify and rectify failures to apply the higher rates of Income-tax and Wealth-tax to HUFs with at least one member having taxable income or wealth, and requires a footnote on the current ITNS 154/W.T. assessment form recording that the tax calculations for 1974-75 and onwards have been reviewed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Higher tax rates for HUFs require departmental review and correction of past assessments and recording of review.
The Board directs supervisory staff to review tax calculations for assessment year 1974-75 and subsequent years to identify and rectify failures to apply the higher rates of Income-tax and Wealth-tax to HUFs with at least one member having taxable income or wealth, and requires a footnote on the current ITNS 154/W.T. assessment form recording that the tax calculations for 1974-75 and onwards have been reviewed.
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