https://www.taxtmi.com/caselaws?id=411021 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee trust regarding the addition of unclaimed income in the trust's hands. The ITAT emphasized the need for consistency in taxing trust income and highlighted that the unclaimed shares were properly accounted for by the trust. By following precedent and ensuring equitable treatment, the ITAT directed the Assessing Officer to delete the addition, emphasizing fairness and proper application of tax laws. The decision underscored the importance of adhering to legal provisions and ensuring consistent and fair tax assessments. en-us Fri, 30 Jul 2021 00:00:00 +0530 Sun, 15 Aug 2021 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411021 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee trust regarding the addition of unclaimed income in the trust's hands. The ITAT emphasized the need for consistency in taxing trust income and highlighted that the unclaimed shares were properly accounted for by the trust. By following precedent and ensuring equitable treatment, the ITAT directed the Assessing Officer to delete the addition, emphasizing fairness and proper application of tax laws. The decision underscored the importance of adhering to legal provisions and ensuring consistent and fair tax assessments. Case-Laws Income Tax Fri, 30 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411021