https://www.taxtmi.com/caselaws?id=400897 The High Court remanded the case to the Tribunal for fresh consideration on three key issues: 1) tax liability for beneficiaries' share, emphasizing the importance of following precedent; 2) tax deduction on interest despite non-taxable beneficiaries, highlighting the need for proper consideration of facts; and 3) applicability of the mutuality principle for tax liability, stressing the importance of following established decisions. The Court directed the Tribunal to adhere to legal principles and precedents in its reconsideration without delving into the merits of the case. en-us Tue, 03 Nov 2020 00:00:00 +0530 Sat, 21 Nov 2020 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400897 The High Court remanded the case to the Tribunal for fresh consideration on three key issues: 1) tax liability for beneficiaries' share, emphasizing the importance of following precedent; 2) tax deduction on interest despite non-taxable beneficiaries, highlighting the need for proper consideration of facts; and 3) applicability of the mutuality principle for tax liability, stressing the importance of following established decisions. The Court directed the Tribunal to adhere to legal principles and precedents in its reconsideration without delving into the merits of the case. Case-Laws Income Tax Tue, 03 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400897