https://www.taxtmi.com/caselaws?id=384648 The ITAT Ahmedabad condoned a 404-day delay in filing appeals due to the accountant's health issues, allowing the appeals to proceed. The Tribunal remitted the case to the Assessing Officer for a de novo examination concerning the taxability of trust funds, source of funds, and partial withdrawals by beneficiaries. The Tribunal emphasized the need for clarity on the trust's unexplained investments and the differentiation between trust corpus and income accretion. The decision was rendered for statistical purposes, requiring further scrutiny to establish the legality and tax implications of the trust funds. en-us Wed, 31 Jul 2019 00:00:00 +0530 Mon, 11 Nov 2024 16:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384648 The ITAT Ahmedabad condoned a 404-day delay in filing appeals due to the accountant's health issues, allowing the appeals to proceed. The Tribunal remitted the case to the Assessing Officer for a de novo examination concerning the taxability of trust funds, source of funds, and partial withdrawals by beneficiaries. The Tribunal emphasized the need for clarity on the trust's unexplained investments and the differentiation between trust corpus and income accretion. The decision was rendered for statistical purposes, requiring further scrutiny to establish the legality and tax implications of the trust funds. Case-Laws Income Tax Wed, 31 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384648