Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
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The assessee, a trust, claimed to be taxed at the same rate applicable to its beneficiary u/s 115BAA. However, this claim was dismissed as the assessee was not treated as a representative assessee. The CIT(A) accepted the assessee's status as a representative assessee and held that since the assessee is a determinate trust with RIIHL as its sole beneficiary and settler, and RIIHL has opted for taxation under the new regime at 22%, the assessee is also liable to be taxed at the same rate. The court held that u/s 161(1), a representative assessee shall be taxed in the same manner and to the same extent as the person represented. Since RIIHL was taxed u/s 115BAA, the assessee trust should also be taxed at the same rate. The court distinguished the case from Mrs. Amy F. Cama, where the trust was not considered a representative assessee. The Tribunal's decision in favor of the assessee was upheld.
The assessee, a trust, claimed to be taxed at the same rate applicable to its beneficiary u/s 115BAA. However, this claim was dismissed as the assessee was not treated as a representative assessee. The CIT(A) accepted the assessee's status as a representative assessee and held that since the assessee is a determinate trust with RIIHL as its sole beneficiary and settler, and RIIHL has opted for taxation under the new regime at 22%, the assessee is also liable to be taxed at the same rate. The court held that u/s 161(1), a representative assessee shall be taxed in the same manner and to the same extent as the person represented. Since RIIHL was taxed u/s 115BAA, the assessee trust should also be taxed at the same rate. The court distinguished the case from Mrs. Amy F. Cama, where the trust was not considered a representative assessee. The Tribunal's decision in favor of the assessee was upheld.
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