https://www.taxtmi.com/caselaws?id=291109 The Tribunal clarified that income from venture capital undertakings is exempt from taxation and should be treated as directly earned by investors. It held that interest income should be assessed in the hands of beneficiaries, not the assessee-Fund, which acts as a pass-through entity. The Assessing Officer's misunderstanding led to incorrect assessment, rectified by the Tribunal to ensure proper tax treatment. Both Miscellaneous Petitions by the assessee were allowed, affirming the correct interpretation of tax provisions and pass-through status of the Fund. en-us Wed, 04 Apr 2018 00:00:00 +0530 Wed, 28 Oct 2020 19:21:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291109 The Tribunal clarified that income from venture capital undertakings is exempt from taxation and should be treated as directly earned by investors. It held that interest income should be assessed in the hands of beneficiaries, not the assessee-Fund, which acts as a pass-through entity. The Assessing Officer's misunderstanding led to incorrect assessment, rectified by the Tribunal to ensure proper tax treatment. Both Miscellaneous Petitions by the assessee were allowed, affirming the correct interpretation of tax provisions and pass-through status of the Fund. Case-Laws Income Tax Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291109