https://www.taxtmi.com/caselaws?id=17079 The Court ruled in favor of the Revenue, determining that the trust, being discretionary with an uncertain beneficiary, should be taxed at the maximum marginal rate under s. 164(1) of the IT Act, 1961. The decision emphasized the significance of a known beneficiary for tax assessment purposes and clarified that trusts with uncertain beneficiaries are subject to the highest tax rate. en-us Mon, 09 Mar 1998 00:00:00 +0530 Tue, 15 Sep 2009 11:11:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17079 The Court ruled in favor of the Revenue, determining that the trust, being discretionary with an uncertain beneficiary, should be taxed at the maximum marginal rate under s. 164(1) of the IT Act, 1961. The decision emphasized the significance of a known beneficiary for tax assessment purposes and clarified that trusts with uncertain beneficiaries are subject to the highest tax rate. Case-Laws Income Tax Mon, 09 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17079