https://www.taxtmi.com/caselaws?id=329613 The Court ruled in favor of the assessee, holding that the specific shares allocated to beneficiaries in the Trust indicated a specific Trust structure not subject to taxation at the maximum marginal rate under section 164. The Court emphasized the importance of share allocation in determining the nature of the Trust for tax purposes. The matter was remanded to the Tribunal for further action based on the Court's order, answering the reference against the revenue and in favor of the assessee. en-us Tue, 21 Jun 2016 00:00:00 +0530 Wed, 06 Jul 2016 04:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329613 The Court ruled in favor of the assessee, holding that the specific shares allocated to beneficiaries in the Trust indicated a specific Trust structure not subject to taxation at the maximum marginal rate under section 164. The Court emphasized the importance of share allocation in determining the nature of the Trust for tax purposes. The matter was remanded to the Tribunal for further action based on the Court's order, answering the reference against the revenue and in favor of the assessee. Case-Laws Income Tax Tue, 21 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329613