https://www.taxtmi.com/caselaws?id=214577 A trust was held entitled to the benefit of proviso (iv) to Section 164(1) of the Income-tax Act because the Tribunal had already found that employee benefits extended to dependent family members, bringing the trust within the statutory exception. Since the Revenue did not challenge that Tribunal finding, the assessing authority was bound to give effect to it and could not continue to apply the maximum marginal rate. The assessment orders were set aside and tax liability was directed to be recomputed at the normal rate applicable to an association of persons in accordance with the Tribunal's ruling. en-us Tue, 12 Jun 2012 00:00:00 +0530 Fri, 06 Jul 2012 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214577 A trust was held entitled to the benefit of proviso (iv) to Section 164(1) of the Income-tax Act because the Tribunal had already found that employee benefits extended to dependent family members, bringing the trust within the statutory exception. Since the Revenue did not challenge that Tribunal finding, the assessing authority was bound to give effect to it and could not continue to apply the maximum marginal rate. The assessment orders were set aside and tax liability was directed to be recomputed at the normal rate applicable to an association of persons in accordance with the Tribunal's ruling. Case-Laws Income Tax Tue, 12 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214577