https://www.taxtmi.com/caselaws?id=349521 The appellate tribunal upheld the decision of the Commissioner of Income Tax (Appeals) that the appellant is a determinate trust under the Indian Trusts Act, 1882, not an Association of Persons (A.O.P.). It was ruled that income from contributions made by beneficiaries is taxable only in their hands, not the trust's. Additionally, the tribunal affirmed that the income of the trust is taxable in the hands of contributors/beneficiaries, not as an A.O.P. Lastly, the tribunal upheld the classification of income from a commercial lending business as "Income from Other Sources." The revenue's appeal was dismissed on 4th August 2017. en-us Mon, 04 Sep 2017 00:00:00 +0530 Mon, 16 Oct 2017 09:18:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349521 The appellate tribunal upheld the decision of the Commissioner of Income Tax (Appeals) that the appellant is a determinate trust under the Indian Trusts Act, 1882, not an Association of Persons (A.O.P.). It was ruled that income from contributions made by beneficiaries is taxable only in their hands, not the trust's. Additionally, the tribunal affirmed that the income of the trust is taxable in the hands of contributors/beneficiaries, not as an A.O.P. Lastly, the tribunal upheld the classification of income from a commercial lending business as "Income from Other Sources." The revenue's appeal was dismissed on 4th August 2017. Case-Laws Income Tax Mon, 04 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349521