https://www.taxtmi.com/caselaws?id=11514 The court ruled in favor of the assessee, holding that income from house property should be assessed in the hands of the beneficiaries, while business income should be taxed at the maximum marginal rate in the hands of the trust. The court emphasized that Section 161(1A) of the Income-tax Act, 1961, applies to business income and does not override provisions related to income from house property. The judgment was directed to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. en-us Fri, 28 Mar 2003 00:00:00 +0530 Tue, 11 Aug 2009 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11514 The court ruled in favor of the assessee, holding that income from house property should be assessed in the hands of the beneficiaries, while business income should be taxed at the maximum marginal rate in the hands of the trust. The court emphasized that Section 161(1A) of the Income-tax Act, 1961, applies to business income and does not override provisions related to income from house property. The judgment was directed to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Fri, 28 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11514