https://www.taxtmi.com/caselaws?id=5471 The Supreme Court upheld the High Court's decision, confirming that the trust income is chargeable at the maximum marginal rate. The court emphasized that both categories of beneficiaries had an interest in the trust income, justifying the application of the maximum marginal rate. The policy of law aims to discourage discretionary trusts by charging their income at the maximum marginal rate, except in specified situations. The appeals were dismissed with costs. en-us Fri, 28 Apr 1995 00:00:00 +0530 Tue, 25 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5471 The Supreme Court upheld the High Court's decision, confirming that the trust income is chargeable at the maximum marginal rate. The court emphasized that both categories of beneficiaries had an interest in the trust income, justifying the application of the maximum marginal rate. The policy of law aims to discourage discretionary trusts by charging their income at the maximum marginal rate, except in specified situations. The appeals were dismissed with costs. Case-Laws Income Tax Fri, 28 Apr 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5471