https://www.taxtmi.com/caselaws?id=355949 The Tribunal dismissed the Revenue's appeals, upholding the CIT (A)'s decision that the income of discretionary trusts had already been taxed. Taxing the same income received by employees would result in double taxation, as per section 56(2)(vi) of the Income-tax Act. The Tribunal considered circular no.157 and relevant judicial precedents, emphasizing that income should not be taxed twice. en-us Mon, 19 Feb 2018 00:00:00 +0530 Wed, 21 Feb 2018 21:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355949 The Tribunal dismissed the Revenue's appeals, upholding the CIT (A)'s decision that the income of discretionary trusts had already been taxed. Taxing the same income received by employees would result in double taxation, as per section 56(2)(vi) of the Income-tax Act. The Tribunal considered circular no.157 and relevant judicial precedents, emphasizing that income should not be taxed twice. Case-Laws Income Tax Mon, 19 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355949