Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
Centralised assessment transfer becomes unwarranted once the searched person's assessment is complete, requiring restoration to the appropriate charge...
A charitable trust assessed as an Association of Persons was held taxable at normal slab rates, not at the maximum marginal rate, because its activities were for the benefit of the public at large and the trustees had no share in the income. The Tribunal treated the issue as covered by co-ordinate Bench decisions on identical facts, including the assessee's own earlier case, and accepted that such a trust cannot be characterised as an AOP with determinate or indeterminate member-shares for the higher rate to apply. The challenge to levy of tax at the maximum marginal rate was allowed.
A charitable trust assessed as an Association of Persons was held taxable at normal slab rates, not at the maximum marginal rate, because its activities were for the benefit of the public at large and the trustees had no share in the income. The Tribunal treated the issue as covered by co-ordinate Bench decisions on identical facts, including the assessee's own earlier case, and accepted that such a trust cannot be characterised as an AOP with determinate or indeterminate member-shares for the higher rate to apply. The challenge to levy of tax at the maximum marginal rate was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
