https://www.taxtmi.com/caselaws?id=7544 The court clarified the taxability of trustees' income under Section 164 of the Income-tax Act, 1961, when beneficiaries' shares are indeterminate. It affirmed that once income is taxed in the hands of a beneficiary, it cannot be taxed again in the hands of trustees. The court held that the tax rate for trustees' income should be based on the total income excluding amounts already taxed in beneficiaries' hands. The Tribunal's decision to apply a higher rate based on total income was deemed erroneous, and the Commissioner was directed to pay the costs to the assessee. en-us Fri, 23 Aug 1968 00:00:00 +0530 Wed, 25 Feb 2009 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7544 The court clarified the taxability of trustees' income under Section 164 of the Income-tax Act, 1961, when beneficiaries' shares are indeterminate. It affirmed that once income is taxed in the hands of a beneficiary, it cannot be taxed again in the hands of trustees. The court held that the tax rate for trustees' income should be based on the total income excluding amounts already taxed in beneficiaries' hands. The Tribunal's decision to apply a higher rate based on total income was deemed erroneous, and the Commissioner was directed to pay the costs to the assessee. Case-Laws Income Tax Fri, 23 Aug 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7544