https://www.taxtmi.com/caselaws?id=17015 The court upheld the decision to tax the assessee at the maximum rate under section 164(1) of the Income-tax Act, 1961, for the assessment year 1974-75. The court found that the beneficiary was considered unknown and the shares indeterminate due to clauses in the settlement deed, justifying the application of the maximum tax rate. The court ruled against the assessee, affirming the decision of the Appellate Tribunal. No costs were awarded in the judgment. en-us Tue, 02 Apr 1996 00:00:00 +0530 Mon, 14 Sep 2009 16:03:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17015 The court upheld the decision to tax the assessee at the maximum rate under section 164(1) of the Income-tax Act, 1961, for the assessment year 1974-75. The court found that the beneficiary was considered unknown and the shares indeterminate due to clauses in the settlement deed, justifying the application of the maximum tax rate. The court ruled against the assessee, affirming the decision of the Appellate Tribunal. No costs were awarded in the judgment. Case-Laws Income Tax Tue, 02 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17015