https://www.taxtmi.com/caselaws?id=283293 The High Court upheld the Tribunal's decision in a tax case for the assessment year 2009-2010, ruling that the income of a Trust should be taxed in the hands of the contributors or beneficiaries based on determinable shares, not in the hands of the trustees. The Court emphasized established legal principles and precedents, dismissing the Revenue's appeal and affirming the taxability of income in the hands of the beneficiaries. The commercial nature of the Trust's activities was not a decisive factor in the tax treatment of the income. en-us Wed, 27 Feb 2019 00:00:00 +0530 Wed, 18 Sep 2019 07:45:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283293 The High Court upheld the Tribunal's decision in a tax case for the assessment year 2009-2010, ruling that the income of a Trust should be taxed in the hands of the contributors or beneficiaries based on determinable shares, not in the hands of the trustees. The Court emphasized established legal principles and precedents, dismissing the Revenue's appeal and affirming the taxability of income in the hands of the beneficiaries. The commercial nature of the Trust's activities was not a decisive factor in the tax treatment of the income. Case-Laws Income Tax Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283293