Income assessed in hands of Appellant as Representative...

Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid taxes in beneficiaries' hands. Interest levied. Return filed by assessee as representative assessee. Tax position for onshore AIF funds. Assessee registered as AIF, representative of beneficiaries. CPC didn't consider advance tax paid by trustee. Assessee furnished income statement to beneficiaries indicating income share and taxes paid. Trustee paid tax on beneficiaries' income share under their PANs, gave declaration. TDS by investees under beneficiaries' PAN, advance tax paid by assessee for first quarter. Declaration withdrawn following CBDT Circular clarifying tax position for onshore AIFs. Assessee eligible for pass-through taxation. Assessee allowed credit for TDS and advance tax claimed in return as representative assessee. CIT(A) findings upheld, assessee's appeal dismissed.

---