https://www.taxtmi.com/caselaws?id=300449 The Tribunal dismissed the Revenue's appeals, affirming that the 95% surplus distributed among trust members is not subject to taxation. The surplus distributed among Self-Help-Groups (SHGs) was deemed not taxable income as it was based on proper accounts, procedures, and principles of mutuality, reflecting collective efforts rather than individual income. The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision in favor of the assessee trust, emphasizing the determinate nature of each member's share and the non-arbitrary distribution process. en-us Wed, 27 Aug 2014 00:00:00 +0530 Thu, 03 Feb 2022 09:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300449 The Tribunal dismissed the Revenue's appeals, affirming that the 95% surplus distributed among trust members is not subject to taxation. The surplus distributed among Self-Help-Groups (SHGs) was deemed not taxable income as it was based on proper accounts, procedures, and principles of mutuality, reflecting collective efforts rather than individual income. The Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision in favor of the assessee trust, emphasizing the determinate nature of each member's share and the non-arbitrary distribution process. Case-Laws Income Tax Wed, 27 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300449